Emerging Brands Brief — September 13, 2023

<a href="https://techcrunch.com/2023/09/07/ai-reading-coach-startup-ello-raises-15-million-to-bolster-child-literacy/" rel="noopener ugc nofollow" target="_blank">AI reading coach startup Ello raises $15 million</a> Ello, an AI reading coach startup, has raised $15 million in Series A financing to support its mission of eradicating childhood illiteracy. The funding will be used for product development and expanding access to consumers. Ello is a subscription-based service that delivers five books every month to children from kindergarten through Grade 3. The app uses artificial intelligence and child speech recognition technology to listen to the child read out loud and provide feedback on mispronunciations and missed words. It also incorporates gamification mechanics to engage children and reward their progress. Ello aims to provide a learning experience that is enjoyable and doesn’t feel like a test. The company claims that its AI reading coach outperforms competitors in the market. Ello currently has 10,000 families using its app, with children having read over 300,000 books. In the future, Ello plans to partner with schools and develop a product specifically designed for classrooms. The company is also integrating generative AI into its app and testing versions of Ello in other languages. The funding round was led by Goodwater Capital and included participation from Reed Hastings, Common Sense Growth, Homebrew, and Ravensburger. <a href="https://insights.axcelerate.xyz/emerging-brands-brief-september-13-2023-b5b3fccd5268">Click Here</a>