Educational software specialist Lexara Ltd, closed its first venture capital round, raising an undisclosed amount from the South East Growth Fund (SEGF). The funding will enable Lexara to drive the further development of its Magic Studio Web 2.0 learning resources.
Geoffrey Doyle, Investment Manager at SEGF said, “The Lexara team has a strong vision and a great set of developed technologies in their Magic Studio offering. We see the increased usage by the education and cultural heritage sectors of Web 2.0 technologies as playing to the strengths of Lexara. As such we feel that the company is well positioned to achieve solid growth.”
Ben Hayman, Lexara CEO said “I am very pleased to have the support of SEGF at a time when our Magic Studio product range is gaining some real momentum in the market place. We can now focus on the task of bringing our partners’ content archives into use in the classrooms and homes of learners throughout the country.”
Lexara’s online products and content partnerships enable the easy creation of cross-curricular content by learners, teachers, authors and publishers.
SEGF is one of nine regional venture capital funds covering the English regions. The GBP30m fund is managed by WM Enterprise and its investors include Barclays, Berkshire Pension Fund, Royal Bank of Scotland, GE Commercial Finance, the European Investment Fund, and WM Enterprise.
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