The game manufacturer Ravensburger is planning a strategic partnership with the Spanish education start-up Lingokids, whose playful app for learning English for kids is already used by 20 million households worldwide.
Ravensburg – Ravensburger leads a second round of funding for Lingokids, a platform for early childhood digital learning based in Madrid, Spain. The Upper Swabian game manufacturer announced that they also wanted to jointly develop educational games in the medium term. With the partnership, Ravensburger is following its strategy of investing in digital, international and innovative concepts.
In addition to Ravensburger, there are other investors on board, including the venture capital company HV Holtzbrinck Ventures. The total volume of this financing round is ten million dollars (around 8.5 million euros), so far the start-up has already raised 23 million dollars (around 19.6 million euros) from investors.
“Entrepreneurship and Potential”
Lingokids was founded in 2016. The main product is an innovative app for learning English for children aged two to eight at home, which is already used by over 20 million families worldwide. The offer is to be expanded further – to include content for learning multidisciplinary skills such as creativity, communication, collaboration, critical thinking, reading and writing, but also Mint knowledge (mathematics, computer science, natural sciences and technology) through to social-emotional learning.
“We are delighted with the entrepreneurial spirit and the potential of this partnership, which, especially in these difficult times, supports millions of families with high-quality, playful learning content,” says Thomas Bleyer, Ravensburger manager responsible for corporate development.
Ravensburger and Lingokids pursued the same goal, namely to give children easy access to education through high-quality, playful learning, says Cristóbal Viedma, boss and co-founder of Lingokids. The platform consists of more than 600 interactive games, videos, songs and vocabulary in English, which adapt to the child’s learning pace.
Ravensburger employs almost 2200 people and had a turnover of over 524 million euros in 2019.