Sparkmind leads €1.1m round for CanopyLab

Existing and new investors including Jørgen Balle Olesen and The Index Project also participated.

The company also received €1.4m in venture loans and soft money from the Danish Growth Fund and Innovation Fund Denmark.

The company will use the funding to accelerate its commercial growth, allowing it to pursue new opportunities especially in Asia and Latin America, and fund key hires in business development and marketing.

This investment is the fifth from Sparkmind.vc's €45m learning-focused venture capital fund. It follows investments in 2020 in Fuzu, School Day, Kide Science and Playvation.  

Company
Founded in 2015 and based in Copenhagen, CanopyLab has created an e-learning platform, The Canopy, which is being used in 200 schools and almost 30 companies.

The geographical market focus of its educational institutions business is Latin America, Africa and Asia, while corporate sales are primarily focused on Europe. The company has fewer than 50 staff, according to LinkedIn.

People
Sparkmind.vc – Kai Talas (partner).
CanopyLAB – Sahra-Josephine Hjorth (co-founder, CEO).

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