Read our blog post about why we invested in Edurino.
Edurino, an EdTech startup offering a hybrid learning platform with an app and toy figurines for children, has raised EUR 3.35 million in a seed round from experienced investors, led by btov Partners. Other backers include experienced VCs such as Emerge Education and Fabian and Ferry Heilemann through Pirate Impact.
Hybrid digital learning
With the aid of an ergonomic stylus, a toy fox named Mika, and a learning app, this hybrid approach to reading and writing was designed for preschoolers aged 4 and above. While children learn through play, parents can track their children’s learning progress in a separate area and regulate screen time individually. The app independently announces the end of play time and switches off when the screen time has elapsed. The learning journey thereby adapts individually to the developmental stage of the child.
“We want to lay the foundation for responsible digital literacy at an early age. We were amazed at how few good digital products there were on the market. Together with our strong investor team from the areas of gaming, education & tech, we want to revolutionize the digital education industry,” says Irene Klemm, Co-Founder of Edurino.
With the outbreak of the global pandemic, the founders, who met at the Boston Consulting Group, decided the time was right to start making interactive products targeted specifically to the needs of children.
“We want to create products children will love. You have to look at the world from a different perspective and understand kids’ sense of play. We have worked with over 20 kindergartens and seen how well Edurino can be integrated into a child’s daily routine. Our crowdfunding campaign went 60% beyond our target, so we see confirmation from parents that our hybrid approach is on the right track,” says Franziska Meyer, co-founder of Edurino.
Experienced investors on board
The group of investors is also convinced by the founders’ hybrid approach:
“In order for our children to find their way in the digital world of tomorrow, we need to teach them digital skills. And that’s exactly what Edurino is training them to do.” – Verena Pausder, education expert and investor.
“As both a father and founder of a company in the mobile gaming sector, I believe in the connection between learning and games. In particular, I’m excited about combining digital and analog forms of play to teach young children important skills in new ways.” – Jens Begemann, Wooga founder, gaming expert and business angel.
“Our analysis shows that the pandemic has highlighted a deficit in the education landscape and that Edurino and the team around Irene and Franziska are ideally suited to fill this gap.” – Luca Martinelli, btov Partners.
With the fresh financing, the two founders plan to bring more figurines to market and develop more content, such as numeracy. The goal of the company is to become a holistic learning system for preschool children, then older school children and integrate learning games for creativity, English as a second language, and the basics of coding into its learning platform. In order to scale product development, they plan to triple their staff from ten to thirty people over the next 12 months. The company also aims to launch their products in the retail sector this year as well.
btov Partners is a European venture capital firm focusing on digital technologies since 2000. btov’s network of entrepreneurial private investors provides it with unique expertise and supports the firm’s passion for discovering non-obvious businesses and founders. The Digital Tech team focuses on startups primarily in AI, fintech, SaaS, logistics and digital marketplaces. With offices in Berlin, Munich, St. Gallen and Luxembourg, the company manages assets of EUR 510 million. The most well-known investments include SumUp, DeepL, Raisin DS, Facebook, Foodspring, ORCAM, Raisin, Volocopter and XING.