Futura, an AI-powered education company, announced today that it has successfully raised €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. This funding will enable Futura to accelerate its mission of making the world learn faster.
Futura, founded in 2020 by Andrea Chirolli, Francesco Salvatore, and Lorenzo Pinto, has developed an innovative algorithm that personalizes and optimizes students’ learning trajectories. This algorithm replicates the experience of working with a highly skilled private professor, resulting in impressive outcomes. Students using Futura have a 3.5 times higher chance of passing tests compared to traditional learning methods.
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 newly acquired €14 million in Series A funding, Futura 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.
Futura’s mission is rooted in the belief that traditional education methods are outdated and cannot keep up with the potential of modern technology. The company views AI as a game-changer in the edtech space, enabling personalized learning at scale and at an affordable price, thereby making education more accessible to all. Futura’s innovative algorithm optimizes students’ learning trajectories by selecting the next best action for everyone, effectively tailoring the study method to their unique needs.
Moreover, the algorithm automatically addresses students’ inquiries, making customer support more efficient and faster. To further enhance the learning experience, Futura has developed “Alice”, an AI-powered virtual tutor that uses large-language models to generate customized explanations and learning materials, tailored to each student’s level, knowledge, and learning style.
Futura is confident that its product will significantly impact education and help the next generation of learners multiply their learning speed. The company is well-positioned to lead the charge in this new era of edtech, making education more personalized, efficient, and accessible to all.
Futura plans to use the acquired funding to further invest in their technology and AI, expand into new business lines, and grow their team across Europe. The company is particularly focused on hiring in Italy and Spain and plans to double their team size within the year.
Futura believes that a global reach is key to attracting top talent. The startup explicitly targets international hires, with their Dutch COO joining the team in Italy two years ago, and many of the newly incoming business leads being Italians who have lived throughout Europe. The company believes that foreign hires bring diverse skills and perspectives to the table, and that individuals with international experience often possess an entrepreneurial mindset that is vital for success.
According to the founders, the company’s popularity is driven by a unique combination of a warm and welcoming office culture, with a strong focus on personal growth and performance.
“We have a strong proven track-record on growth, but what really 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 strongly believe these two go hand in hand, and this is what makes us attract top talents,” said Andrea Chirolli, co-founder at Futura.
“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,” added Alexandre Dewez, Vice-President at Eurazeo.
“Futura is addressing a massive need through an innovative approach that leverages the latest technologies. We’re excited to continue supporting their vision of reimagining education and helping many more students succeed,” commented Paolo Gesess, co-founder & managing partner at United Ventures
“Very thrilled to announce our collaboration with Eurazeo and United Ventures as part of the remarkable team at Futura. Together, we embark on a journey aimed at establishing Futura as a leading force in European education,” added Manuel Monge, Investment Manager at Axon Partners Group.
