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Holtzbrinck Publishing Group has invested a significant amount in London-based Founders Factory, a combined incubator and accelerator program founded by the team of Founders Forum.
Founders Factory will focus its activities on the following six tech verticals: Retail, Media, Telecoms, Financial Services, Consumer Goods and Education, with the latter being the first one to launch.
As part of its investment, Holtzbrinck will transfer assets of Digital Education to Founders Factory. This includes former Macmillan Digital Education startups EnglishUp, an online English tutoring platform, math tutoring service Maths Doctor, as well as Mactrac rebranded as EIGHTEEN70. As a result of the transfer Digital Education will be shut down on June 30.
The restructuring is part of the merger of Holtzbrinck-owned Macmillan Science and Education with Springer Science+Business Media, which was announced in January.
(Discloser: Digital Education is a supporter of EDUKWEST Europe)