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The AI boom is changing the learning practices, and the Estonian startup scene is making a mark on it. This month, Tallinn-based AI startup Flashka has raised €1M in pre-seed funding led by Outlast Fund, with participation from Ulixes Capital Partners (UCP) and Vento Ventures.
Founded in 2023 by Stefan Djokovic, David Djokovic, and Simone De Marchi, Flashka has developed an AI-powered study platform that helps university students master complex subjects through automated flashcards, quizzes, and personalized learning tools. It focuses on spaced repetition, a learning technique that boosts retention with adaptive schedules, reducing cramming. It can be used with any subject, or for language study.
Flashka founding team
The app has achieved huge traction, reaching one million users just a year after launch and claiming the number one spot on the App Store in both Italy and Spain.
“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, co-founder and CEO.
The platform’s growth has been impressive beyond purely user numbers. Flashka has tripled its recurring revenue over the past three months and is now rapidly expanding its user base in the DACH region (Germany, Austria, and Switzerland).
“For too many students, AI is currently used only as a shortcut. Flashka is part of the countermovement where a new generation of students uses its features daily as a way to deepen their learning, not avoid it,” noted Kristaps Prusis, Founding Partner of Outlast Fund.
The fresh capital will fuel Flashka’s expansion, focusing on growing its remote technical team and accelerating product development. Planned features include advanced personalized analytics, social study tools, and broader support for different learning modalities.
Outlast Fund, announced in 2024, specializes in early-stage B2B software startups in the Nordic and Baltic regions, with a particular focus on first-time founders with unique vertical insights. UCP, founded in Italy in 2019, invests in innovative startups and SMEs, while Turin-based Vento Ventures supports the next generation of Italian entrepreneurs globally.
