Sydney startup Canopy Study raises $1.1 million for AI-driven education platform

Sydney-based edtech startup Canopy Study has raised $1.1 million in seed funding to grow its AI-driven learning platform that seeks to personalise learning materials for students — and cut down busy work for teachers.

Founded in 2020, the company’s data-driven platform uses proprietary algorithms to convert coursework and curriculum data into learning resources.

Data can be transformed into tests, quizzes and flashcards in a matter of minutes, giving educators back valuable time to devote directly to in-person learning with students.

Learning resources can also adapt to students’ unique learning styles and model optimised learning patterns.

The seed round was led by Australian VC Folklore Ventures.

The funds will help the team accelerate its product development and let the startup build out its team across Australia.

By creating adaptive learning materials at scale, Canopy Study claims it can empower teachers and students globally to “achieve their maximum potential, in and out of the classroom”.

Co-founder and chief executive Dean Mikan says the founding trio founded Canopy Study based on a mission to level the education playing field.

“To achieve this we need to support teachers with technology that enhances their ability to deliver personalised learning journeys to every student,” Mikan said.

While AI is now used across diverse industries to help power efficiency, productivity, and decision making, its potential in education has been largely overlooked.

“Our goal is to change that and show the world what’s possible when you bring AI into the classroom,” he said.

Investor at Folklore Ventures Dan Fleming says the fund was looking forward to helping bring Canopy Study’s platform to a sector that has “historically been underserved by technology”.

The lack of effective technology in education was only exacerbated by the pandemic, Fleming says.

“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.”