Funding will support CanopyLAB’s international expansion in K-12 and corporate learning.
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.
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The investment will help the company further expand its sales and marketing efforts. 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.
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“As an industry, we’re just scratching the surface of how powerful virtual learning. Learners from across the globe turn to CanopyLAB for a trusted partner to digitise schools and corporate learning,” said CanopyLAB’s Chief Executive Officer Sahra-Josephine Hjorth. “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.
“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.”
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