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Funding

AI-based edtech Canopy Study plants $1.1 million Seed round

- April 19, 2022 2 MIN READ
Canopy Study co-founders Andre Avedissian, Ethan Catzel and Dean Mikan.
Sydney startup Canopy Study, which uses artificial intelligence (AI) to create adaptive and personalised ways to improve learning, has raised an $1.1 million in a Seed round.

VC Folklore Ventures backed the edtech startup. The cash is earmarked for product development and to build out the team across Australia.

Canopy Study uses AI and proprietary algorithms to convert coursework and curriculum data into formative learning resources, including tests, quizzes and flashcards, in a matter of minutes. Those resources can be adapted to a student’s unique learning styles and model optimised learning patterns.

Co-founders Dean Mikan, Ethan Catzel and Andre Avedissian launched the edtech in 2020, seeking to empower both educators and learners globally to achieve their maximum potential.

Mikan, who’s also CEO, said AI-powered tools can help educators nurture a student’s learning through personalised teaching material that adapt to outcomes on an individual level, rather than by cohort.

“We started Canopy Study because we believe that everyone deserves access to a world-class education, regardless of their circumstances. To achieve this we need to support teachers with technology that enhances their ability to deliver personalised learning journeys to every student,” he said.

“AI exists in so many industries to help power efficiency, productivity, and decision making, but its transformative potential in education is untouched and often overlooked. Our goal is to change that and show the world what’s possible when you bring AI into the classroom.”

The result simplifies, and to an extent gamifies education to make it easier to retain knowledge.

Folklore Ventures investor Dan Fleming said the education sector has historically been underserved by technology, a fact that was magnified by the pandemic.

“We believe in the power of merging education and technology and are drawn to Canopy Study’s vision to deliver world-class educational experiences that will shape the future of learning – not just in Australia, but across the globe,” he said.

 

 

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