Kognity secures SEK 15M in an investment round including the Norrsken Foundation and Gullspång Invest.

Sweden Investments 30 May 2018
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Kognity, a Stockholm, Sweden-based education textbook publisher, announced getting a SEK 15M ($1.7M) capital investment round.

The money comes from new and existing investors, including Norrsken Foundation, Gullspång Invest and Swedish angel investors Gustaf Rentzhog and Jeremias Andersson.

Kognity, founded in 2014 by Nicholas Johansson and Hugo Wernhof, is providing first-class digital textbooks that adapts to the learning needs of students and help teachers coach their students through their education. The company has 70 employees and clients in over 75 countries.

In 2017, Kognity was breakeven at a turnover of about 20M ($2.3M). Prior to this deal, it raised about $1.8M in capital, from angel investors Gustaf Rentzhog, Jeremias Andersson and Jonas Axelsson.