Domestic, Education Quality, Required, Startups, Venture Capital - Written by on Tuesday, November 15, 2011 14:43 - 0 Comments

Heard: Education Startup Naiku Scores Funding | StarTribune.com

Teacher in primary school in northern Laos

Naiku: Means teacher in Laos. Image via Wikipedia

Turns out the midwest is not only about cars and automakers. Here’s Minnesota-based Naiku, who just landed some support from venture capital. It’s not a huge amount of money, but a sign that there are real signs of life outside of the auto world. Wendy Lee reports:

The companys $320,000 investment came from 3C Capital, Omphalos Venture Partners and individual investors. Naiku is a Web testing platform that allows students to explain their difficulties with specific test questions. For instance, using Naiku, a teacher can assess how many students in their class got a test question wrong and why. So far, 40,000 students have used the product.

Naiku launched last year at a time when venture capital investments in Minnesota were at their lowest level in 15 years. Earlier this year, Naikus founders were worried about fundraising. Since the majority of venture capital investments in the state usually go to medical device companies, there were concerns that local investors wouldnt take a chance on education technology.

via Education technology start-up Naiku secures $320,000 in funding | StarTribune.com.



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