Bayern Kapital invests in e‑learning program eKidz.eu
Munich — Bayern Kapital invests in the start-up eKidz.eu, which has developed a program for mobile devices to facilitate the acquisition of language and reading skills for children and pupils. The young Munich-based company has now successfully completed its seed financing round with the support of the BayStartUP investor network, receiving a high six-figure sum. In addition to Bayern Kapital, six business angels participated in the round. With the capital, eKidz.eu wants to finance the development of new features of the app, expand the offer to other operating systems and integrate additional content.
The start-up was founded in January 2017 by a team of three led by Nataliya Tetruyeva (photo). eKidz.eu plans to use the funds from the seed round to drive the development of the program and finance the rollout in various European countries. An English language version is also to be included in the app.
eKidz.eu has developed the first e‑learning program in Germany for so-called immersive language learning specifically for children aged 5–10, where they are immersed in the virtual world in a natural way when using the program. The app is also suitable for children learning German as a second language. The goal is to improve children’s language and reading skills in a natural way. Specifically, digital children’s books can be accessed via app on mobile devices such as tablets. The approximately 50 children’s books currently available are systematically divided into nine reading levels. Children can have the texts read aloud at the appropriate level, read for themselves, and answer comprehension questions. Afterwards, teachers or parents can view the results of the exercises. The app is available on iPad; Windows and Android versions are under development. In the future, the app will be supplemented with audio recordings and other functions. eKidz.eu’s target groups are schools and families.
Dr. Georg Ried, Managing Director at Bayern Kapital, says: “So far, 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 supplement to school education and is therefore likely to become increasingly popular as society becomes more digitized. Therefore, we see eKidz.eu with its sophisticated app as an exciting investment with excellent prospects.”
eKidz.eu is the first digital program in Germany for language learning through reading and writing for children. The app for learning German is suitable for children aged 5–10. The digital children’s books are systematically structured into 9 reading levels, introducing children to fluent reading. Reading using new exciting media on iPad and tablet increases children’s curiosity and motivation. eKidz.eu uses new technologies to make access to language learning easier for children and young adults as well. With eKidz.eu, every child receives a mobile language laboratory in which individual language skills can be strengthened.
BayStartUP’s offerings give founders, investors and companies orientation in Bavaria’s startup scene. With the Bavarian Business Plan Competitions, an extensive coaching offer and Germany’s largest investor network, BayStartUP supports founders and young companies in optimizing their strategy, building their business and finding start-up or growth capital. Through BayStartUP, startups have contact opportunities with more than 280 listed business angels, over 100 institutional investors, and financing from 50,000 euros to 5 million euros. Each year, BayStartUP’s investor network brokers around 50 million euros to startups. So far, more than 1,600 companies have emerged from the Bavarian Business Plan Competitions. Today, they are active on the market with approximately 11,400 employees and generate sales of around 1 billion euros. They have about 400 participant teams each year. www.baystartup.de
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded in 1995 as a wholly owned subsidiary of LfA Förderbank Bayern on the initiative of the Bavarian state government. As the venture capital company of the Free State of Bavaria, Bayern Kapital provides equity capital to the founders of innovative high-tech companies and young, innovative technology companies in Bavaria. Bayern Kapital currently manages eleven investment funds with an investment volume of around 325 million euros. To date, Bayern Kapital has invested around 273 million euros of equity capital in around 260 innovative technology-oriented companies from a wide range of sectors, including life sciences, software & IT, materials & new materials, nanotechnology and environmental technology. As a result, more than 5,000 jobs have been permanently created in Bavaria in sustainable companies. www.bayernkapital.de