Start-up Lexara, a new company in the educational content field, has bagged £250,000 of funding in order to develop its business.
The Oxfordshire-based company has received the funding in exchange for a minority stake of its shareholding from the South East Growth Fund (SEGF).
Lexara provides educational media tools for schools which are designed to cross the curricular and be used by teachers and pupils alike.
The development capital means that the business, which was formed in August 2007, will be able to continue to develop its MagicStudio product and integrated it products with learning platform and educational network services.
Ben Hayman, CEO of Lexara, said: “I am very pleased to have the support of SEGF at a time when our Magic Studio product range is gaining some real momentum in the market place.
“We can now focus on the exciting task of bringing the great content of our partners archives into use in the classrooms and homes of learners through the country.”
Geoffrey Doyle, Investment Manager at SEGF said: "The Lexara team has a strong vision and a great set of developed technologies in their Magic Studio offering.
“We see the increased usage by the education and cultural heritage sectors use of Web 2.0 technologies as playing well to the strengths of Lexara. As such we feel that the company is well positioned to achieve solid growth.”
© Crimson Business Ltd. 2008