Masterplace, an AI-based edtech platform that assists tutors in creating, delivering, and monetizing comprehensive courses through artificial intelligence, has raised a €1.85 million seed round.
The funding, backed by a group of business angels and Ilya Rouss, founder of Masterplace, will be used to launch its AI-powered educational platform that offers content for students and empowers mentors to effortlessly create courses while simplifying student tracking and evaluation. The platform will be ideal for individuals looking to start a teaching career without prior experience, as well as for students without formal qualifications seeking to enhance their skills or change careers.
Masterplace was founded by a team of seasoned business and educational professionals, including Ilya Rouss, a serial entrepreneur with 15 years of experience in technological projects and marketing, who has managed campaigns and pro-athlete sponsorships for renowned brands such as Eurasian Bank, Red Bull, and Yamaha.
“Masterplace was born in response to the needs of content creators, helping them create and monetize their courses, when we noticed that only 10% of online course enrollees actually complete them. Therefore, we decided to create a structure that not only helps content creators save time and effort in course development but also provides incentives for users to successfully complete the courses they purchase,” commented Ilya Rouss, CEO and founder of Masterplace.
While creating and building a course can be time-consuming and challenging, Masterplace supports teachers with an AI-generated co-pilot avatar, which assists in structuring and creating course content and helps students navigate the content based on their individual needs and context. As a result, Masterplace aims not only to offer top-quality content but also to support both educators and learners throughout the educational experience to maximize knowledge transfer.
All educational content generated on Masterplace is part of a blockchain, promoting the accumulation of knowledge while ensuring the intellectual property rights of both teachers and students. With this unique non-fungible record, Masterplace aims to establish its sessions and content as accepted bibliographic references for future academic work.
Read the orginal article: https://www.eu-startups.com/2024/08/barcelona-based-masterplace-gets-e1-85-million-to-address-low-completion-rates-in-online-courses-with-ai-support/
