Posted on Friday, April 08 2011 @ 19:08 CEST by Thomas De Maesschalck
Intel Capital announced an investment of $20 million in Kno, an education software company. The money will be used to optimize Kno's touch-based applications for Intel's educational platforms.
Intel Capital, Intel Corporation's global investment organization, today announced a $20 million investment in Kno Inc., an education software company. The investment is part of a $30 million Series-C round led by Intel Capital, which includes participation from Andreessen Horowitz, Advance Publications, First Round Capital, FLOODGATE and SV Angels. Kno will use the funding to develop its innovative educational software solutions for multiple platforms, including Intel® architecture.
Kno, short for knowledge, is an education software company on a mission to make learning engaging, effective and social for students. The companies will work together to address the growing interactive and 1:1 student learning environments by exploring opportunities to make Kno's touch-based applications available for Intel's educational platforms.
"The increasing consumption of digital content has primed the textbook market for disruption, creating an exciting opportunity for technology innovation to fundamentally change the way 1.4 billion students globally learn," said Arvind Sodhani, president of Intel Capital and Intel executive vice president. "Kno's purpose-built education tablet, along with its unique software solution, delivers a learning experience that directly supports Intel's 1:1 eLearning vision."
"Intel and Kno have a shared goal of accelerating the global education technology market so we are very pleased to have Intel Capital's support," said Osman Rashid, CEO and co-founder, Kno Inc. "Kno's software makes learning more engaging, effective and social for students, which we believe has the power to transform how students learn."
"Intel technology is increasingly becoming a favorite in devices for consumers as well as vertical industries like education," said Bill Kircos, marketing general manager, Intel Netbook and Tablet Group. "Intel® Atom™ processors and the underlying technologies are well-suited for Kno's touch-based applications, and provide the power-efficient performance and responsiveness today's students have come to expect from tablets."
