The innovative edtech startup Masterplace has successfully raised $2 million in a Seed funding round, marking a significant milestone in the landscape of educational technology. The newly funded platform is aimed at integrating artificial intelligence to enhance educational experiences and cater to societal benefit. With a focus on both students and educators, Masterplace is set to redefine how educational content is generated, accessed, and utilized.
Masterplace’s approach contrasts with previous online education initiatives by employing AI to assist both students and mentors. Historically, other platforms have struggled with student engagement and course completion rates. Masterplace addresses these issues by incorporating AI-generated avatars that aid in the creation and navigation of course content. This dual support mechanism for educators and learners aims to increase course completion rates, an area where previous platforms have seen limited success.
Earlier attempts at similar edtech innovations often lacked robust systems for tracking and evaluating student progress. Masterplace offers a comprehensive solution by simplifying these processes through its AI-powered features. This improved structure is designed to incentivize both educators and learners, potentially setting a new standard in online education.
AI-Generated Co-Pilot Avatar
The platform’s key feature includes an AI-generated co-pilot avatar, which assists teachers by structuring and creating course content. This avatar also helps students navigate the material, ensuring personalized learning experiences. By catering to individual needs and contexts, Masterplace aims to maximize knowledge transfer and overall educational quality.
Blockchain and Intellectual Property
Masterplace leverages blockchain technology to ensure the intellectual property rights of both educators and students. All educational content generated on the platform is secured on a blockchain, promoting the accumulation of knowledge and establishing it as a reliable bibliographic reference. This non-fungible record aims to provide a secure and verifiable source for academic work in future educational endeavors.
According to Ilya Rouss, CEO and founder of Masterplace, the platform was developed in response to the needs of content creators and students. Rouss highlighted the low completion rates of online courses, which stand at around 10 percent, as a key motivator for creating a more engaging and supportive educational structure.
“Masterplace was born in response to the needs of content creators, helping them create and monetize their courses when we noticed that only 10 percent of online course enrollees actually complete them.”
The funding, backed by business angels and Ilya Rouss, will be used to build a platform that is ideal for individuals aiming to start a teaching career without prior experience. It also caters to students without formal qualifications who wish to enhance their skills or transition to new careers.
Masterplace represents a significant advancement in the edtech field by addressing long-standing issues of student engagement and course completion. Its innovative use of AI and blockchain technology sets it apart from previous platforms, offering a more supportive and efficient educational experience. As the platform continues to develop, it holds the potential to become a pivotal resource for both educators and learners, transforming the online education landscape.
