Futura, an AI-powered education technology company, has recently announced that it has successfully raised $15 million (€14 million) in Series A funding. The round was led by Eurazeo, with participation from existing investor United Ventures and new investor Axon Partners Group.
Co-founded in 2020 by Andrea Chirolli, Francesco Salvatore, and Lorenzo Pinto, Futura has developed an innovative algorithm that personalises and optimises students’ learning trajectories. This algorithm replicates the experience of working with a highly skilled private professor, resulting in impressive outcomes. The company claims that students using the platform have a 3.5 times higher chance of passing tests than traditional learning methods. Its innovative algorithm optimises and tailors the study method to their unique needs. Moreover, the algorithm automatically addresses students’ inquiries, making customer support more efficient and faster.
Speaking about the company, Andrea Chirolli, Co-founder of Futura, said:
We have a strong proven track-record on growth, but what counts are our people. We set a different standard, and this is what drives our success. Why I love working at Futura: we have a very high bar, and we’re kind with each other. I firmly believe these two go hand in hand, and this is what makes us attract top talents.
The startup believes that traditional education methods need to be updated and keep up with the potential of modern technology. It views AI as a game-changer in the EdTech space, enabling personalised learning at scale and an affordable price, thereby making education more accessible to all.
Alexandre Dewez, Vice-President of Eurazeo, added:
We’re convinced that Futura provides a value-added solution for the entire education ecosystem in Italy. We’re thrilled to partner with Andrea, Lorenzo, Francesco and the rest of the Futura team, leveraging its unique AI capabilities to build the next education leader in Europe.
To further enhance the learning experience, Futura has developed Alice. This AI-powered virtual tutor uses large-language models to generate customised explanations and learning materials tailored to each student’s level, knowledge, and learning style. As per the company, this product will significantly impact education and help the next generation of learners multiply their learning speed. It is well-positioned to lead the charge in this new era of EdTech, making education more personalised, efficient, and accessible to all.
Since raising €1.8 million in seed funding in 2022, Futura has experienced significant growth, with revenues tripling each year and achieving profitability. With the new financing, the startup aims to expand its reach throughout Europe and develop new products after initially focusing on medical school entrance test preparation. The company’s goal is to become the next Italian unicorn.
