Stockholm-based EdTech startup Magma Math has raised $10 million in a funding round from existing investor Five Elms Capital. The company provides an AI-driven platform for K-12 classrooms, designed to support teachers in implementing math instruction and assessing student understanding. The new funding will be used to further develop the platform’s AI capabilities, expand the team, and extend the service to additional schools internationally, including in the US, UK, Sweden, and Germany. Magma Math’s tools combine AI insights with established math pedagogy to support classroom instruction and student learning.
Magma Math is a K-12 digital math platform founded in Sweden in 2015, now operating internationally in markets including the US and UK. The platform provides tools and resources to support teachers in delivering math instruction, offering real-time insights into student progress and thinking. Magma Math’s offerings include lesson materials aligned with state standards, automated grading, and student progress tracking. The company integrates research-based pedagogy to support personalized learning and collaborative classroom environments, and is exploring AI and machine learning to enhance feedback for educators and students.
“Our vision is clear: AI is the engine powering the future of math learning,” said Henrik Appert, CEO and Co-founder of Magma Math. “This funding allows us to double down on innovation, support teachers with smarter tools, and continue building a thriving, mission-driven company at the forefront of EdTech.”
Building on its momentum in the AI space, Magma Math recently received support from the Gates Foundation to advance teacher-focused tools that recognize student thinking and provide actionable insights. This initiative reflects Magma Math’s commitment to using AI as a supportive force that amplifies teacher impact and deepens student engagement, ensuring that human connection remains at the center of every classroom.
And in June, the company raised $40 million in a Series A funding round led by Five Elms Capital, with participation from previous investors, to further expand its curriculum offerings, enhance AI capabilities, and scale operations internationally.
Five Elms Partner Joe Onofrio commented on the investment: “Magma Math has demonstrated exceptional product-market fit in addressing one of education’s most pressing challenges: raising math proficiency at scale through AI-driven instruction. We’re excited to partner with Henrik and the team as they work to improve mathematics achievement across the US, UK, Sweden, Germany and beyond.”
Magma Math is shaping the future of math learning by combining human insight with the power of AI. The platform supports formative assessment, mathematical discourse, and deep conceptual understanding while integrating seamlessly with classroom technology to drive lasting academic success.
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Read the orginal article: https://arcticstartup.com/magma-math-raises-10-million/
