Boxmind, a UK-based provider of e-learning content for university courses has gained £8 million in financing in exchange for 40.3% of shares. The financing was provided by AIM-listed investment fund Eurovestech.This is Eurovestech’s third injection in Boxmind. The first investment of £175,000 was made in April 2000 at the time of founding, whereas a second cash injection of £200,000 arrived in January this year.
First sales of a combined software and e-learning content package were made to UK universities this May. The company has also entered a co-branding agreement with The Times newspaper.
The company has also engaged Wendy Rimmington as Sales and Business Development Director. Rimmington was formerly employed with Pearson FT Knowledge North America and Penguin UK.
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