We take a look at the latest funding rounds that have taken place in Europe in the e-Learning sector. We also analyse the round closed by Yogome, with which the Mexican startup has received a capital injection of $26.9M.
Yogome is a Mexican startup specialising in digital learning and early childhood education, creating powerful learning experiences through a fun and engaging curriculum based on games and captivating characters.
Founded in 2010 by Manolo Diaz and Alberto Colin, Yogome's entertaining but academically sound games, evaluated by studies at Yale University, have been embraced by parents and students alike.
Yogome's platform consists of more than 2,000 games, interactive books and videos in six languages on key topics - such as maths, science and emotional learning - to support the education of children aged 4-10. The company currently has 6 million monthly active users in 50 countries.
Yogome, a global leader in digital learning and early childhood education, has announced that it has closed its Series B round with $26.9M in funding to fuel its growth.
The round was led by Exceed Capital Partners, an investment firm focused on leading growth companies in the global human capital sector. Seaya Ventures, who led the Series A in May 2017, was also part of the round along with Variv Capital and Insight Venture Partners, the latest addition to the company's investors.
This round of funding will allow Yogome to accelerate its growth into new markets, improving access to users in China, Japan, Korea and the Philippines. With plans to continue its expansion alongside academic content as it grows its subscriber base, Yogome is well positioned to secure its place as a leader in global education.
"The most important thing we can do for children around the world is to inspire them to love learning," said Victor Hu, CEO and co-founder of Exceed Capital, who will join Yogome's Board of Directors. "Yogome's innovative educational games have already given millions of children an exciting start to their learning journey, and we are thrilled to join Manolo and his team in their mission to create the most powerful and engaging learning platform for children around the world. and families deeply aligns with where we believe the global education sector is headed, and we look forward to supporting them as they grow in the future.
| PROGRAMME | SME Horizon |
|---|---|
| PUBLIC BODY | CDTI |
| BENEFICIARIES | Funding for projects that have not received funding in the European Commission's SME INSTRUMENT call for proposals, both in Phase 1 and Phase 2, which have obtained a very high score and which will be funded jointly with the Autonomous Regions. |
| PURPOSE OF THE PROGRAMME | The objective of the call is to finance a feasibility study (technical and commercial) including a business plan of an innovative project for those SMEs that, having applied to Phase I of the SME Instrument of the Horizon 2020 programme, have been evaluated by the European Commission with a very high score, and that for budgetary reasons have not been able to be financed. |
| CHARACTERISTICS OF THE AID | The following items of expenditure shall be considered eligible: - In-house staff and new recruits. - Subcontracting. - Travel. - Technical assistance. - Auditing of accounts. - Consultancy. |
| TYPES OF AID | Subsidy for the feasibility study (technical and commercial) including a business plan for an innovative project. In Phase 1, the maximum eligible budget will be €50,000. |
| DEADLINE | NEXT OPENING Phase 1: Third quarter of 2018. Phase 2: Coming soon. |
| INFORMATION | +34 946 42 41 42 info@abra-invest.com |
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