Romanian edtech solution Kinderpedia raises € 1.8 million in a round led by EGV
Early Game Ventures (EGV) (earlygame.vc) announces the signing of an investment worth € 1.8 million in Kinderpedia (kinderpedia.co), the complete digital communication and management solution for schools and kindergartens built in Romania and recognized in Europe for innovation and social impact. Existing investors, RocaX, Growceanu, and business angels also participated in the round.
Kinderpedia is an innovative platform for education, which provides the entire digital infrastructure needed for educational institutions to work smart and communicate efficiently and transparently, both in the classroom and online. Today, more than 2,000 schools and kindergartens in 14 countries on three continents, totaling about 200,000 users, are registered on Kinderpedia.
"The current round of funding helps us to continue the transformation we started in education by simplifying the administrative processes in schools and kindergartens and placing the teacher-student-parent partnership right at the heart of the educational act. At the same time, it provides us with the resources to continue the scaling process, now that Kinderpedia is already benefiting from validation on several international markets. Last but not least, this transaction brings to our community a strong partner, with whom we share values and a common vision about the future of education - Early Game Ventures - and strengthens our collaboration with current investors, to whom we are grateful for their support and trust."
"The pandemic has shown that there is an acute need for technological solutions in the field of education," said Radu Stoicoviciu, Partner at EGV. "Education is one of the vital systems of any state, with fundamental long-term importance and an enormous impact at all levels of society. The development of digital infrastructure for education has a huge stake and should be a top priority. This is how our investment fund analyzed this transaction and, from this perspective, EGV's investment in Kinderpedia is part of our thesis -Infrastructure for Innovation-", adds Radu Stoicoviciu.
"We believed in Kinderpedia's mission from the beginning, and we happily joined a year ago to support them in their development plans. This round confirms the accelerated growth and scaling potential of this edtech business designed from the beginning for the universal needs of parents and educators and the paradigm shift in terms of online education. And precisely because education is at the basis of ROCA X and Impetum Group's values, but also at the basis of entrepreneurship, we get involved where we feel we can bring about change for the better," said Alexandru Bogdan, CEO of ROCA X.
DLA Piper and CEE Attorneys - Boanţă, Gîdei & Associates provided the legal assistance of the transaction.
Kinderpedia helps teachers and educators save 6 to 9 hours a week of administrative time and focus their efforts on a superior and personalized educational act. The application includes full class management features - electronic gradebook, attendance, daily schedule, remote video teaching, homework module, document library. At the same time, it improves parent engagement in children's education through a secure and easy-to-use mobile interface. Kinderpedia offers principals a complete perspective on all school and kindergarten activities and communication. In addition, the platform provides functions of automatic invoicing, financial management, and online payment of tuition fees by integrating with electronic payment systems.
Kinderpedia is hosted in the cloud, available in 15 languages , and works as a native mobile app for Android and iOS, both for teachers and managers and for students and parents. The solution has received widespread recognition for its innovative nature and social impact, both at the national and European levels. The European Commission has awarded Kinderpedia with the Seal of Excellence under the SME Instrument program, Phase II. The company was named Tech for Good at the European Business Angels Summit in Bruxelles. Also, it took the podium in numerous entrepreneurial competitions, such as Innovators for Children or Startarium.
Early Game Ventures (EGV) is a venture capital firm funded mostly through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund.
The European Investment Fund (EIF) is part of the European Investment Bank Group and is the leading risk financier for Europe's SMEs through venture capital, collateral, and microfinance instruments. In Romania, the EIF implements financial instruments co-financed through structural and investment funds, such as JEREMIE 2007-2013, SME Initiative, ROP, JOP, NRDP.
The Competitiveness Operational Program 2014-2020 (POC) makes investments to address the needs and challenges raised by the low levels of economic competitiveness, in particular with regards to (a) insufficient support for research, development and innovation and (b) underdeveloped infrastructure for Information and Communication Technology. POC benefits from a € 1.33 billion allocation from the European Regional Development Fund.