CanopyLAB Secures $3 Million Investment round led by Sparkmind.vc
Copenhagen, Denmark — January 26th, 2021. CanopyLAB, the EdTech company whose vision is to change the way we learn by combining artificial intelligence, virtual learning, social media, and empowerment through learning, announced it has attracted a $3 million funding round. $1.5 million consists of venture financing and $1.5 in venture debt from the Danish Growth Fund combined with soft money from the Innovation Fund Denmark, amongst others. The funding will support CanopyLAB’s international expansion in K-12 and corporate learning focusing on LATAM and Africa.
The investment round was led by Finnish edtech specialist Sparkmind.vc and joined by The Index Project, JBO invest, and the existing investor group.Sparkmind.vc Partner Kai Talas will join CanopyLAB’s Board of Directors as the Chairman.
The financing builds on an exceptional year for CanopyLAB, which saw a rapidly growing roster of clients, key executive appointments, and market momentum in the areas of eLearning and artificial intelligence. CanopyLAB’s client roster grew to include 200+ companies and educational institutions such as CARE (Peru), Kalinga Institute of Social Sciences (India) and TEINTE Educación (Mexico), The Danish Electrician Association, among many others.
“The market is responding to a powerful combination of nordic learning principles powered by artificial intelligence. Our platform empowers content creators to publish top-notch learning experiences in just minutes, relying on tools like our automated quiz question generator,” said CanopyLAB’s Chief Executive Officer Sahra-Josephine Hjorth.
In addition to soaring sales, CanopyLAB signed partnership number 100 in December 2020. Each partnership is with an NGO that provides free access to content for youth and teachers on topics related to mental health, women’s rights, the Sustainable Development Goals, remote teaching, blended learning, and much more. The community of more than 100,000 youth and 25,000 teachers who take free courses through CanopyLAB’s free learning channels The LAB, TeacherLAB, and DocenteLAB each act as ambassadors for the CanopyLAB learning ecosystem.
Key features and benefits of the CanopyLAB platform include:
- A social network to help learners connect.
- More than 55 built-in pedagogical exercises such as a learning journal, brainstorming, and adaptive quizzes.
- The ability to automatically generate quiz questions and answer options based on the learning materials that are uploaded to the platform.
“Having the financial support and expertise of Sparkmind.vc and the Index Project will help us execute our vision even more rapidly and broadly – and with the benefit of experience, perspective, and relationships of a leading tech investor.” said CanopyLAB’s Chief Executive Officer Sahra-Josephine Hjorth.
“CanopyLAB’s offering is well-timed with the rapidly increasing demand for solutions that extend the reach of a brand’s content and drive business results,” said Kai Talas, Partner at Sparkmind.vc. “CanopyLAB is a powerful solution for the industry, and we are excited to collaborate with and support them as they work to build a great company in an exciting sector he concludes.
CanopyLAB is an EdTech company founded in Copenhagen. It introduces new engaging and collaborative learning methods to meet the 21st-century skills gap. Based on one platform, CanopyLAB offers both white label solutions for educational institutions and organizations and a free, global learning solution for leading NGOs focusing on Climate Action & Sustainability, the SDGs, Health, Sexual & Reproductive Rights, Entrepreneurship, and Democracy.
Sparkmind.vc is the first Nordic venture capital company exclusively focused on the learning sector. The company invests from Seed to Series B stages in teams transforming how the world learns. Its investments are focused on solutions that improve learning outcomes, increase access and efficiency of learning or use data insight to better support educators and learners.