Funding

Futura funding news – Edtech Startup Futura Secures €14 Million in Series A Round Funding

May 7, 2024 | By Startup Rise EU

Futura, an AI-powered education startup located in Milan, has raised €14 million in its series A round of investment. Leading the round was Eurazeo, with participation from newcomer Axon Partners Group and veteran investor United Ventures. With this support, Futura will be able to carry out its aim of accelerating global learning more quickly.

SUMMARY

  • Milan-based edtech startup Futura secures €14 million in series A round funding.
  • Futura intends to expand into new business sectors, hire more people around Europe, and make further investments in their technology and artificial intelligence.

Futura, an AI-powered education startup located in Milan, has raised €14 million in its series A round of investment. Leading the round was Eurazeo, with participation from newcomer Axon Partners Group and veteran investor United Ventures. With this support, Futura will be able to carry out its aim of accelerating global learning more quickly.

It has grown significantly since obtaining €1.8 million in early capital in 2022; its annual revenues have tripled, and the company is now profitable.

After originally concentrating on preparing students for medical school entrance exams, Futura now hopes to develop additional products and broaden its reach throughout Europe with the recently obtained €14 million in Series A investment. Becoming the next Italian unicorn is the company's ambition.

The foundation of it's work is the idea that conventional teaching approaches are out of date and unable to fully utilise the possibilities of contemporary technology. According to the business, artificial intelligence (AI) is revolutionising the edtech industry by facilitating individualised learning at scale and at a low cost, increasing accessibility to education for everyone.

Futura is sure that its product will have a big influence on education and assist the future generation of students study at a faster rate. The business is in a strong position to drive innovation in this new edtech era, increasing accessibility, efficiency, and personalisation in education for all.

Read also - Wayve funding news – London-based Wayve €1 Billion in Series C Round Funding

With the money they've raised, Futura intends to expand into new business sectors, hire more people around Europe, and make further investments in its AI and technology. The firm intends to quadruple its staff size within the year and is especially focused on hiring in Spain and Italy.

It thinks that drawing in top talent requires having a worldwide presence. The company specifically seeks out foreign talent; its Dutch COO joined the team in Italy two years ago, and many of the recently hired business leaders are European-born Italians.

The organisation thinks that hiring people from other countries adds a variety of viewpoints and skill sets, and that people with international experience frequently have an entrepreneurial attitude, which is essential for success.

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Andrea Chirolli, co-founder at Futura said, “We have a strong proven track-record on growth, but what really counts are our people. We set a different standard, and this is what drives our success. Why I love working at Futura: we have a very high bar, and we’re kind with each other. I strongly believe these two go hand in hand, and this is what makes us attract top talents,”

Alexandre Dewez, Vice-President at Eurazeo said, “We’re convinced that Futura provides a value-added solution for the entire education ecosystem in Italy. We’re thrilled to partner with Andrea, Lorenzo, Francesco and the rest of the Futura team, leveraging its unique AI capabilities to build the next education leader in Europe,”.

Paolo Gesess, co-founder & managing partner at United Ventures said, “Futura is addressing a massive need through an innovative approach that leverages the latest technologies. We’re excited to continue supporting their vision of reimagining education and helping many more students succeed,”.

Manuel Monge, Investment Manager at Axon Partners Group said, “Very thrilled to announce our collaboration with Eurazeo and United Ventures as part of the remarkable team at Futura. Together, we embark on a journey aimed at establishing Futura as a leading force in European education,”

About Futura

Futura enables everyone to have access to high-quality education. By learning from your previous mistakes and paying close attention to your weak areas, their AI-based platform maximises both your study time and exam performance. They fully customise instruction by utilising a data-driven methodology and modular design that accommodates each student's unique demands.

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