Edtech Flashka reaches 1 million
Flashka raises €1 million pre-seed to boost marketing, tech
TALLINN - Born from a personal need, Flashka has moved from a personal study tool for co-founder and CEO David Djokovic to an Estonian edtech startup with its first round of funding and over 1 million users, all while taking over the App Store in Italy and Spain.
Ready to begin growing the B2C company through improved marketing and scaling its technical team, the Tallinn-registered, fully remote company has raised a €1 million pre-seed round led by Nordic-Baltic early-stage VC Outlast Fund, with participation from UCP and Vento Ventures.
Flashka, an AI-driven study app for university students, was first developed by co-founder and CTO Stefan Djokovic for his brother David to help him while he was studying Economics at university. The pair founded the company with a long-time school friend Simone De Marchi, now Flashka’s CPO.
Aimed at students in medical and life science fields, Flashka is a learning platform that uses AI to help university students prepare for exams. It generates personalised study materials, such as flashcards and quizzes, from the students’ own notes and materials, helping them memorise and review content more effectively.
”Students are the reason we build this product. They message us every day with feedback, and they are the ones telling us what actually helps them learn,” said David Djokovic.
“I always wanted to work in something that had a social impact, something that was impactful to many people in a good way, and I also had a big passion for B2C companies, because I find it more interesting and fun,” he says as he talks to me from a cafe in Italy, where the co-founders grew up.
On raising the round, Djokovic says it ‘actually went very smoothly’.
“Outlast Fund is extremely founder-friendly. We started chatting with them sometime before the round because we met them at TechChill in Riga, in March last year. Since then, they supported us with introductions and connections. Once we decided to raise, they were happy to lead the round,” he explains.
After claiming the top spot in the App Store in Italy and Spain, Flashka has its sights on rapidly increasing its user base in the DACH region.
“For too many students, AI is currently used only as a shortcut. Flashka is a part of the countermovement where a new generation of students uses its features daily as a way to deepen their learning, not avoid it,” said Kristaps Prusis, Founding Partner of Outlast Fund.