Edtech startup Lingokids, formerly known as Monkimun, has closed a new funding round worth US$4 million led by European VCs Holtzbrinck Ventures and JME Venture Capital. Bessemer Ventures Partners also participated.
The firm develops language learning apps for early childhood. Rather than offering individual apps, Lingokids has a subscription service which lets families discover games, songs, videos, and audiobooks through a recommendation engine. CEO Cristobal Viedma says there are currently 2 million families using the services around the world.
Lingokids is headquartered in the US, but has ties to Asia because that’s where Viedma began his tech career. He was part of Singaporean startup Viki, which was acquired by Rakuten in 2013.
Next, Viedma co-founded an edtech startup – then known as Monkimun – together with his sister.
Through the network built during his time at Viki, Viedma was able to raise US$1 million in funding from 500 Startups, Singapore’s Incuvest, and Japan’s SHOzemi Innovation Ventures in 2015 to develop Monkimun.
Viedma had told Tech in Asia at that time that he was seeing “impressive demand” from the Asian market. Simplified Chinese is one of the languages children can learn through the platform and Viedma noted that he saw interest in learning Chinese from Southeast Asian countries. In response, the firm localized apps in a number of Asian languages, including Thai and Indonesian.
We’ve reached out to Viedma to learn more about the firm’s growth in Asia.
This post 500 Startups-backed edtech firm Lingokids raises $4m in new funding appeared first on Tech in Asia.
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