The Munich-based startup eKidz.eu has closed a seed investment round with a high six-figure sum. Bayern Kapital is leading the financing.
The Munich-based startup is developing a smartphone app that supports children ages five to ten in language learning. The app aims to improve children's language and reading skills. The app is aimed at schools and families and is also suitable for children learning German as a second language.
Bayern Kapital is leading the financing round, with six business angels also participating. With the fresh capital, eKidz.eu plans to finance the development of new features for the app, expand the offering to other operating systems, and integrate additional content. Dr. Georg Ried, Managing Director at Bavaria Capital, says:
"Until now, there has been no e-learning application for children's language learning in Germany. However, the market promises great potential, as it is an excellent complement to school education and is therefore likely to become increasingly popular as society becomes increasingly digitalized. Therefore, we see eKidz.eu, with its sophisticated app, as an exciting investment with excellent prospects."
Support for eKidz.eu came from BayStartUP
Specifically, digital children's books can be accessed via the app on mobile devices such as tablets or cell phones. The currently available approximately 50 children's books are divided into nine reading levels. Children can have the texts read aloud at the appropriate level, read them themselves, and answer comprehension questions. Teachers or parents can then view the results of the exercises. The app is currently only available for iPads. Versions for Windows and Android are currently being developed.
The investment round was completed with the support of the BayStartUP network. Nataliya Tetruyeva, Managing Director of eKidz.eu, says:
"The support from BayStartUP was very helpful in the run-up to the round — with financing coaching and contacts in the investor network, we were able to prepare very well for the financing round."
