Qualson, the Seoul-based operator of English-learning apps for South Korean users, has bagged 7.5 billion won ($6.3 million) in funding from Seoul-based venture capital house Capstone Partners, the investor said Sept. 5.
The startup’s apps expose English learners to different materials involving visual, audio and text elements so that they can pick up the language. The Real Class app uses animated series, the Superfan app comes up with video contents featuring figures of which the user is a fan and the Brit English app offers clips featuring English speakers with specific accents and intonations.
Given the fervor of English language learning in Korea, the market here is “seemingly saturated,” said Oh Jong-wook, investment team manager at Capstone Partners.
“However, there is ample room for tech disruption in the English-learning market, and Qualson could be one of them with potential to achieve the innovation,” he added.
Qualson said it will use the funding to develop a “smart-learning system” that is poised for a launch in the second half this year. Users aspiring to learn English will take advantage of the system with artificial intelligence-powered devices. The funding will also back the startup’s effort to bring its learning service overseas.
Founded in 2008, Capstone Partners owns stakes in Korean startups dedicated to information and communication technology, such as door-to-door “dawn delivery” app operator Kurly, property technology solution firm Zigbang and location-based online secondhand marketplace app Danggeun Market.
By Son Ji-hyoung (email@example.com)