A British education technology start-up which works with universities to provide digital access to textbooks and research materials has defied the gloomy sentiment engulfing the fundraising environment by securing a $15m (£12m) capital injection.
Sky News understands that Bibliu, which counts Oxford University and Imperial College London among its customers, will announce this week that it has raised the money from new and existing investors.
The funding will be used to help Bibliu expand in the US, including through partnerships with publishers and new product development, it said.
Bibliu argues that by reducing inequalities caused by the often-high cost of educational resources, it helps colleges and universities to promote diversity, equity and inclusion.
Existing backers including Nesta Impact Investments, Oxford Science Enterprises, Guinness Ventures and Stonehage Fleming are among the participants in the round.
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