Futura, a Milan, Italy-based AI-powered education company, has raised €14 million in Series A funding.
Investors
The round was led by Eurazeo, with participation from existing investor United Ventures and new investor Axon Partners Group.
Eurazeo is a global investment company, with a diversified portfolio of €34.1 billion in assets under management, including nearly €24.1 billion from third parties, invested in 590 companies. Founded in 1969, Eurazeo is based in Paris, France.
Futura Use of Funds
The company aims to utilize the acquired funds to further invest in its technology and AI, expand into new business lines, and grow its team across Europe. Futura is particularly focused on hiring in Italy and Spain and plans to double its team size within the year.
About Futura
Founded in 2020 by Andrea Chirolli, Francesco Salvatore, and Lorenzo Pinto, Futura is an edtech company that has developed an innovative algorithm to personalize and optimize students learning trajectories. To enhance the learning experience, Futura has developed Alice, an AI-powered virtual tutor that generates customized explanations and learning materials tailored to each student's level, knowledge, and learning style.
Funding Details
Company: Futura S.p.A.
Raised: €14.0M
Round: Series A
Funding Month: May 2024
Lead Investors: Eurazeo
Additional Investors: United Ventures, Axon Partners Group
Company Website: https://www.futura.study/
Software Category: Educational
Source: https://www.eu-startups.com/2024/05/milan-based-edtech-futura-raises-e14-million-series-a-to-make-the-world-learn-faster-and-better/