Vækstfonden backs Area9 Lyceum with $30m

With the fresh capital from the Danish fund, the Copenhagen-based education firm plans to finish designing its fourth-generation platform called Rhapsode. It plans to expand the platform globally in organisations, schools and other companies.

Area9 Lyceum said it expects to have its first products ready for Q4 2018.

Technology used for educational purposes, so-called edtech, is the current area of investment focus for Vækstfonden, the fund said.

Company
Founded in 2006 and headquartered in Copenhagen, Area9 Lyceum develops personalised online learning modules for school children, students and professionals. Customers include Hitachi Data Systems, Coloplast and Topshop.

People
Vækstfonden – Christian Motzfeldt (CEO).
Area9 Lyceum – Ulrik Juul Christensen (founder, CEO).

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