The RSBC Group becomes a minority shareholder in MOOVEEZ
The Czech start-up Mooveez has obtained an investment worth dozens of millions of Czech crowns for its further growth and international expansion. The new project partner is the RSBC investment group which has now become a minority shareholder in Mooveez. The contractual partners have agreed not to disclose any more details about the transaction.
Mooveez is the author of a unique mobile application for learning English through movies. According to the British Council, the application was globally the best digital innovation in language education in 2016. Earlier this year, it was launched in Switzerland, France, Spain, Portugal, Latin America, and currently it is already available to mobile phone and tablet users in more than 20 countries. The aim of the investment is to add more language versions in the application and to further expand, for example to the USA, Great Britain or Japan.
“Within half a year, we will add four new languages to our portfolio,” claims the project initiator and MOOVEEZ founder Miroslav Pešta. “We will complement English with Spanish, French, German and Russian,” he added. In all these languages, Mooveez will offer selected films and shorter series in the original version, transformed into an interactive tutorial. Dozens of thousands of users, predominantly from the Czech Republic and Germany, have already registered in the application. And every week, there are two thousand new users.
In the long-term, the RSBC Group operates investments in the area of real estate, industry, complete plant equipment supplies and new technologies. It is active not only in the Czech Republic, but also in Slovenia and Great Britain. “Joining Mooveez is part of our strategy to invest in new technologies where we can see a significant growth potential. We expect that this unique concept of foreign language learning will have a global reach,” says RSBC’s Investment Director Miloslav Vyhnal.
For English learning, the Mooveez language application uses feature films, series or documents that are naturally entertaining for the audience, and therefore users master comprehensive language skills much more efficiently. Major Hollywood studios have also provided copyright permissions to use their blockbusters. Each movie is complemented by professional word-for-word translations, audio cards with selected phrases, story-specific cultural explanations and relevant grammar exercises. The application can be used for self-study, but also as a high-quality teaching material for schools and tutors. Dozens of millions of Czech crowns have been invested in development of the application. It was first launched in 2014 in the Czech Republic and Slovakia. It currently offers more than 60 feature films, series and infotainment documents prepared for English learning.