Taggart's e-learning venture seeks €2m
Last week's Dublin Web Summit brought financier Paschal Taggart's new digital learning venture closer to raising the €2m it needs to expand.
Taggart is chief executive of Mobilearn, a new digital language business selling learning tools for use on smartphones and tablets. The English language e-learning market alone is worth €1bn a year, according to research by Ambient Insight. He owns 38 per cent of the company.
An early-stage start-up, Mobilearn is active in the German and Austrian markets selling English language-learning e-books for €49 each. It wants to enter the Chinese, Indian and Japanese markets, and has received approaches from two education providers in Asia.
"We're looking for seed and early stage funding initially of €500,000 to get to the next development stage, but our total requirement is €2m, to do what we need to do in the next few years," said development chief Sean Featherstone.
As an Enterprise Ireland High Potential Start-up, any funding raised by Mobilearn will be matched the development body.
Following the Web Summit, Mobilearn is talking to three investors, including Digital Education, the MacMillan publisher-owned fund, and former Delta executive Shay Garvey's Frontline Ventures.
Sunday Indo Business