Edtech startup raises new capital and gears up for growth

Aarhus-based edtech startup Lumant has secured an investment from Admill, also based in Aarhus. The investment comes in the wake of Lumant having just reached 200 paying customers.

Admill, which is behind several digital comparison services and has made a strong mark in online marketing, is not only contributing with capital but also with strategic sparring, according to a press release. Lumant will have access to Admill’s team and knowledge in areas such as digital advertising, marketing automation and lead generation.

“We don’t just see Admill as an investor, but as a partner we can spar with along the way. It’s a strength to know that you can reach out for specialized knowledge when facing new growth steps,” says co-founder and CEO of Lumant Rasmus Pedersen and continues:

“We know we’ve hit something right. Now it’s about scaling – technically, commercially and organizationally. We feel ready, and with Admill on board, we’re in a better position than ever before.”

Admill has invested in Lumant as part of its strategy to engage in digital growth companies.

“Lumant has one of the most important things we look for: a passionate team that learns fast and executes sharply. They have proven that they can adapt and find the right product for the right market. These are exactly the kind of cases we want to back,” says Mark Andersen, CEO of Admill.

Setting new, ambitious goals

Lumant, winner of the Fynske Bank Startup Lab in 2024, was originally founded as a marketplace for courses, but after limited traction, the company decided to change its business model last year. The new subscription-based platform now brings together the entire course business in one place and has achieved significant growth in a short time.

“The DKK 100,000 we won at Fynske Bank Startup Lab last year was an important kickstarter. It allowed us to go from experiment to real traction. We used the funds to build a solid customer base, which has now reached 200 paying users,” says Lumant CEO Rasmus Pedersen.

The investment will accelerate growth. Lumant’s ambition is to reach over 4,000 paying customers by the end of 2029 – a goal to be achieved through scalable product development and effective marketing.

“Since we changed our focus, things have taken off. We have continuously expanded the platform with everything from landing pages and email automation to membership clubs and customized payment flows. It has become a solution that both sole traders and larger training companies can use to run their business,” says Rasmus Pedersen.

Indlægget Edtech startup raises new capital and gears up for growth blev først udgivet på TechSavvy.