PitchIT No. 16 - Flashka
This edition covers Flashka: an AI-driven studying platform built to unlock students' full potential
Hello! I’m Alessio from Ulixes Capital and this is PitchIT, a biweekly snapshot describing one of the most interesting early-stage companies in the Italian startup ecosystem in 3 minutes or less. In this issue, we'll be taking a look at Flashka: an AI-driven studying platform built to unlock students' full potential.
In a sentence:
Flashka improves students’ performance through scientifically-backed study methods, automated and powered by AI.
Problem:
Many students waste time with ineffective study techniques, often just reading and repeating content without truly understanding or memorizing it. As the newer generations’ attention spans keep getting shorter, academic pressure is damaging students' health and performances.
This problem is most pressing and clearly visible in medical schools. 55% of medical students show high signs of burnout, evidence that the status quo is actively harming the next generations’ top performers.
Solution:
On Flashka, students can upload their PDFs and use AI-powered tools for tutoring, flashcard creation, and continuous quizzing. In summary, it makes the most effective studying techniques accessible and efficient.
Why now?
The recent rise of generative AI has enabled low-cost, personalized study assistance and material generation. Until last year, the technology needed to provide real-time tutoring, automatic flashcard creation, and adaptive quizzes was not available. Today, Flashka leverages these cutting-edge AI capabilities to transform ineffective study methods into efficient, tailored studying processes.
As students face increasing academic pressures, the demand for innovative study tools has never been higher, meaning now is the perfect time for Flashka to shine.
Market:
With over 35 million university students in the US and the 20 richest European countries, Flashka’s addressable market is massive. For reference, Quizlet, the incumbent online flashcard platform, has over 60 million active users. Students are increasingly willing to invest in platforms that enhance their study habits, and Flashka is well positioned to take advantage of this trend.
Business model:
Flashka is monetized through a freemium model with a monthly or yearly subscription. Users are given 50 free AI interactions per day and can unlock more credits with a subscription of $7.90 per month or $48 per year. This revenue model is still in definition, as it is being continuously tested and optimized, and further subscription tiers are in the works.
Team:
David Djokovic, CEO & Co-Founder (22): Currently a student at Bocconi University and President of an innovation-focused student association counting over 80 members, David previously worked at The Techshop (VC) as an investment analyst intern taking care of the screening process of startups.
Stefan Djokovic, CTO & Co-Founder (26): Previously, Stefan worked at Quora as a Product Software Engineer, optimizing the product and channels for user engagement and growth, and at Red Sift, where he led the development of the Red Sift Radar, the first LLM for Cybersecurity.
Simone De Marchi, CDO & Co-Founder (22): Currently pursuing a master’s in Digital Interaction Design at Politecnico di Milano, Simone previously led the UX/UI design of a mobile-focused startup and worked at a product design studio.
Traction/Achievements:
Reached 12,000 total users organically
Reached $1,200 of MRR within two months of monetization, with 35% MoM growth
Accelerated by B4i
Basic info:
Company Name: Flashka OÜ
Founding Date: September 2023
Legal HQ: Tallinn, Estonia
Operating HQs: Milan, Italy and Tallinn, Estonia
Identification number: 16813828
Employee Count: 3 FTE
Past Investors: B4i – Bocconi for Innovation, Gianluca Cocco
Pre-seed/Angel round in progress
Contact info:
For more information about Flashka, please reach out to David:
Email: david@flashka.ai
Website: flashka.ai
If you happen to be at WMF in Bologna today through Saturday, feel free to reach out to Flashka’s team!
If you’d like to get in contact with us, please feel free to leave a comment or send us an email at pitchit@substack.com
To founders: if you’d like to be considered for a future issue of PitchIT, please feel free to send an email to pitchit@substack.com with a brief description of your startup. Also, if you’re looking to fundraise and you fit within Ulixes Capital Partners’ investment thesis, feel free to fill out an application here.