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Colombian Ed-Tech Company AMIGAS Raises Funds from Gray Matters Capital

31 March 2016

(Press Release) Leading impact investor Gray Matters Capital has made an equity investment in Aulas AMiGAS, a high growth education company based in Medellin, Colombia that develops technology transforming how students learn across Latin America. As part of the investment, GMC also has participation in start-ups SuperProfe, Editorial Aulas AMiGAS, Domoti, QBIC, and La Fundacion Aulas AMiGAS. GMC’s Director of Latin American investment, Sebastian von Stauffenberg commented that “the investment in Aulas Amigas gives GMC a strong entry in the Latin American education market.”

Speaking about the transaction, George O’Kane, Chief Financial Officer of Aulas AMiGAS said, “This is a very exciting milestone for us. It helps us to not only secure the appropriate resources to continue to scale rapidly, but we also get to partner with a strategic investment fund that can help us access new markets, institutionalize, and prepare for international growth.”

The company, which is now present in over 25,000 classrooms with more than 50,000 teacher users, differs from EdTech competitors in that its products are affordable and have a simple user design with easy implementation in educational settings. The core product is a smart board that is a fraction of the cost of competition.

Aulas’ core tenant is that the education paradigm can only be changed by producing better teachers. Founder and CEO Juan Manuel said that his goal is to transform how teachers teach in emerging markets. “Over 10 years ago, I dreamed about changing how children learn in emerging markets by creating truly inspirational teachers. Today with over 200 employees, direct market presence in Latin America and with the confidence of an Institutional Investor such as Gray Matters Capital, we will make this dream a reality.”

Gray Matters Capital invests in entrepreneurs who develop sustainable, market-based solutions for low-income customers globally with a focus on education. Its founder, Bob Pattillo, is also a founder of Gray Ghost Ventures, First Light Ventures, Gray Ghost Microfinance Fund, and an early investor in Bellwether Fund, ASA Intl, Village Capital and dozens of individual enterprises.

Aulas AMiGAS aspires to facilitate meaningful learning experiences within the classroom through innovative technological tools. The high cost of technology, lack of teacher training and digital tools for teachers was the starting point for an integrated education solution including technological tools, teacher training and digital resources. The vision is to change teaching from a static rote model to a dynamic active learning experience.