BibliU keeps $10m

BibliU, a UK-based academic e-textbook portal backed by university venture fund Oxford Sciences Innovation (OSI), has obtained $10m of series A funding led by Nesta Impact Investments, an impact fund sponsored by innovation charity Nesta.
The deal was rounded off by fund management firm Guinness Asset Management in addition to unnamed clients of family office Stonehage Fleming and impact investment bank ClearlySo.
Founded in 2014, Bibliu runs a subscription platform for universities to make textbooks digitally available to their students.
The service incorporates a bespoke search algorithm to quickly find relevant content, and currently offers two months’ free access to aid remote learning during Covid-19.
GUV previously interviewed chief financial officer and co-founder Tao Mantaras for an in-depth look at the service.
BibliU will use the capital to recruit more staff and enhance content delivery. Lisa Barclay, investment director at Nesta, will join the board of directors, and BibliU has appointed Sean Devine, former CEO of e-textbook provider CourseSmart, as chairman.
BibliU received $4.2m in seed funding in 2018 backed by OSI and its co-investment vehicle University of Oxford Innovation Fund (UOIF). Paul Forster’s family office led the round, which also included private investor Fritz Demopoulos.
OSI and UOIF had combined for BibliU’s round of undisclosed size in 2017, adding to £290,000 ($360,000 at today’s exchange rate) raised from unnamed backers at an unspecified date. The company was incubated at University of Oxford’s tech transfer office, Oxford University Innovation.
Barclay said: “Now more than ever before, education institutions have the opportunity to harness technology to deliver new ways of learning. Nesta is delighted to be investing in Bibliu, to support equal access to course materials for all students.”