MathBrix Has Raised $1.25M in NSF Grants to Pivot EdTech Startup From B2B to B2C
In our view, MathBRIX's tenacity that led to this breakthrough funding provides a real-world example of the benefits of changing strategy for other St. Louis EdTech startup entrepreneurs to follow.
I’m late to the news, but while I was updating the EQ’s St. Louis Startup ecosystem map, I noticed that MathBRIX, an EdTech startup we have covered on EQ since 2016, has raised a total of $1.25M in grants from the National Science Foundation (NSF) over the past two years.
I met the MathBRIX founders back in 2017, after they joined the Capital Innovators accelerator program. I was impressed, then, by their pitch to address the need for early learning interventions in mathematics. I also loved the core concept of their company: a game-based learning app to help young children up to the age of 8, develop math skills and the ability to problem solve.
The St. Louis Business Journal has reported that MathBrix recently raised a $200,000 NSF grant to form a commercial partnership with Highlights for Children and “plans to pursue equity investment, with NSF matching 50% of outside investment up to $1 million in nondilutive funds.” This funding follows $1 million small-business grant from NSF in January 2022.
The Business Journal also reports that the company is shifting focus from institutional settings to direct-to-consumer marketing, offering free and paid subscriptions.
Talking Points: Why this Matters to St. Louis
MathBRIX’s breakthrough funding provides a great example for other EdTech startup entrepreneurs in St. Louis. It shows that tenacity —and a pivot towards a different customer segment— can win the day.