Canopy Study, a Sydney-based EdTech startup, which uses artificial intelligence (AI) to create adaptive and personalised ways to improve learning, has raised $1.1 million in a seed round led by VC Folklore Ventures.
With the new financing, the startup plans to help the team accelerate its product development and build out across Australia.
Founded in 2020 by Dean Mikan, Ethan Catzel and Andre Avedissian, 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.
Canopy Study is on a mission to provide people around the world with AI-powered learning to reach their maximum potential.
Talking about the platform, Co-founder and CEO of Canopy Study, Dean Mikan, 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.”
Mikan further added:
“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.”
Canopy Study is a non-stop shop for learning, adapting, and daily improvements. It all starts with being forever curious, about absolutely everything. The platform communicates with transparency and inclusivity in mind. It cares that everyone is given the freedom to be autonomous. The startup is all co-collaborators that have a strong ownership in its own work.
Commenting on the latest development, Investor of Folklore Ventures, 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.”