Key Takeaways
- Formaloo, a Toronto-based EdTech startup, has raised €2M in seed funding.
- Lead investor Change Ventures, along with Hyde Park Venture Partners, Mana Ventures, and Startup Wise Guys, participated in the round.
- Formaloo offers a unique platform that allows businesses to build custom apps as easily as playing with Legos, requiring no coding skills.
- The funds will be used to scale operations, expand services, and strengthen the startup’s market presence.
In a ground-breaking move, Toronto-based EdTech startup, Formaloo, has successfully raised €2M in seed funding. On the cutting edge of the B2B, Collaboration, Consumer Research, Database, EdTech, and Market Research sectors, Formaloo’s innovative platform is revolutionizing the way businesses build custom applications.
Change Ventures led the funding round, with participation from prominent investors Hyde Park Venture Partners, Mana Ventures, and Startup Wise Guys. This round of funding follows a series of four successful fundraising rounds, bringing the total funding amount to $2,301,293.
Formaloo’s platform is a game-changer in the industry. The platform empowers businesses to create custom apps without needing to write a single line of code – as simple as playing with Legos. With this user-friendly approach, the startup is democratising access to technology, making it easier for businesses of all sizes to digitize their operations and leverage the benefits of digital transformation.
With the newly acquired capital, Formaloo plans to further scale its operations, expand its array of services, and solidify its footprint in the market. The funding will enable the startup to invest in talent acquisition, technological advancement, and market expansion, driving continued growth and innovation in the EdTech space.
Change Ventures’ decision to lead this round further validates Formaloo’s impressive growth trajectory and potential for disruption in the tech industry. It also emphasizes the growing interest and confidence of investors in innovative startups that are bridging the gap between technology and user accessibility.
Formaloo’s profile on Crunchbase provides more detailed information about the company’s history, funding rounds, and investors.
This round of funding, carried out on July 5, 2023, undoubtedly marks an important milestone in Formaloo’s journey, putting it on the path to becoming a global leader in EdTech and custom application development.
For more information about Formaloo’s product and services, or to explore their platform, visit formaloo.com.
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