2024 Nordic Baltic EdTech 50

The Nordic Baltic EdTech 50 is aligned to the Global Learning Landscape, an Open-Source Taxonomy that maps the education and talent market

Exhibit 2

K12 remains a core area of focus for EdTech in the region, however this year sees growth in the Workforce & Skills segment. The related categories of advanced technology and STEAM make up over one third.

EdTech that serves the K12 market represent over half of the 2024 cohort, with the majority of those supporting schools and school systems, indicative of the strong integration of technology into formal education in the region. Solutions supporting teachers and teaching such as Curipod and Humly along with those which aid student wellbeing (Allbry) and reading support (Lexplore) are in this group.

STEAM & Coding remains a strong category, with mature startups such as Riga TechGirls and Scrimba in the workforce segment and EduTen and Evolytes in K12. Newer startups include kood/Jõhvi and Tinyfarms.‍ The region is well known for it's strong pedagogical approach to teaching and learning innovation and teacher / teaching solutions (Freeed, Humly, Vedliai) offer support for instructional strategies, learning design, digital content and teacher communities.

This year also sees growth in EdTech operating in the workforce segment, with startups such as talent assessment platform, Fairsight and cybersecurity solutions Hoxhunt and Pistachio.

B2B business models edge up as more solutions appear for employers and industry.

B2B EdTech is strong in the Workforce segment with startups offering solutions such coaching (Astrid, Pandatron), language training for foreign employees (Capeesh) and learning marketplaces (LearnCove). Direct-to-consumer models include those which support math learning (99Math, Eduten, Evolytes), tutoring (TopTutors) and online safety (Aiba).

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Strong representation from Sweden. Finland shrinks while Norway increased share.

Sweden is represented strongly in this year's list with over a quarter of the cohort. in this year's list primarily focus in K12 with solutions such as Allbry , a digital student mental health management platform and learning assessment platform Dugga. Advanced technology and STEAM solutions feature in Finland's representation (GraphoGame, Annie Advisor, Hoxhunt, 3DBear), while Norway shows a higher proportion of workforce solutions such as Pistachio, Scrimba and Capeesh.

Exhibit 3

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Exhibit 4

The number of very early stage startups drops significantly with competition from more established players & diminished EdTech funding.

Mature startups with an established customer base and trusted by their markets continue to dominate the list, however those in the very early stages have seen a significant drop in numbers, within the context of a difficult environment to launch startups. Of those launching in the last three years, most are servicing the workforce sector, such as We Are Learning (Norway), kood/Jõhvior (Estonia) and talent assessment solution, Fairsight (Norway). The growth stage group which are 4-6 years old, include many K12 solutions.

 Exhibit 5

Track the 2024 Cohort

HolonIQ customers can track the data for the most promising EdTech startups in the region on the HolonIQ Intelligence Platform. Look for the 2024 Nordic Baltic EdTech 50 list and double click into the data behind the charts. Request a Demo if you are not a customer and would like to learn more.