Published: January 28, 2021

CanopyLAB Secures $3 Million In Fresh Capital

CanopyLAB Secures $3 Million in fresh capital, combining hard and soft financing in a round lead by Sparmind.vc

CanopyLAB

David Pines, COO

david@canopylab.com

(610) 283-4085

https://canopylab.com/

CanopyLAB Has Completed A Total Of 3 Million In Fresh Capital

Copenhagen, Denmark—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, today announced it has completed a total of 3 million in fresh capital, combining hard and soft financing.

The capital will help the company further expand its sales and marketing efforts and broaden and accelerate product development. The investment round was led by Finnish edtech specialist Sparkminds.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.

In addition, to venture capital, CanopyLAB has been awarded a grant to revolutionize online collaboration with Aalborg University, Arla Foods, Port of Aalborg, and University College North Jutland (UCN). 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.

“CanopyLAB collaborates with a community for more than 100 NGOs to source content and create a strong learning community filled with young ambassadors who champion their modern learning philosophy. Their combination of purpose and profit is strong and we see that they can be a dominant player in the edtech space based on the strong foundation that they have already built” said Kai Talas, Partner at Sparkmind.vc. he continues: “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.”

The funding will support CanopyLAB's international expansion in K-12 and corporate learning, focusing especially on Latin America, Africa, and India in 2021 and beyond.

“We invested in CanopyLAB because of the strong founding team, a working culture that is built on excellence, speed, and execution. I am impressed with how they have adapted to the COVID-19 pandemic and accelerated their growth in a number of regions while launching significant innovations on the product side at the same time” Kai Talas elaborates.

“We have been following CanoplyLAB since the early days of the company and are wildly impressed to see how far they’ve come. In a matter of a few years, they’ve made milestone achievements, and we’re truly excited to be able to support the team and CanopyLAB’s mission in the challenging and exciting journey ahead together with inspiring investors and VCs,” says The Index Project’s Investment Manager Vittoria Casanova.

About CanopyLAB

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 as well as a free, global learning solution for leading NGOs focusing on Climate Action & Sustainability, the SDGs, Health, Sexual & Reproductive Rights, Entrepreneurship, and Democracy.

David Pines, COO, david@canopylab.com +1 (610) 283-4085

About Sparkmind.vc

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.

Vesa Laakso, Partner, vesa@sparkmind.vc, +358 40 052 3127

The Index Project

The Index Project, a foundation born in 2002, was initially tasked with running a large-scale design award to further brand Denmark as a progressive design nation. Today The index project also oversees an investment fund to fuel impact and design-led change.

Ditte Fiil Ravn, Community Manager, dr@theindexproject.org, +45 29800927