US-based children’s arts and crafts service Kiwi Crate secured $2m of seed funding last Tuesday in a round led by venture capital (VC) firm First Round Capital, with participation from Comcast Ventures, the corporate venturing division of cable and internet provider Comcast.
Also investing in the seed round were startup accelerator 500 Startups and venture frims the Mayfield Fund, Felicis Ventures, Forerunner Ventures, Consigliere Brand Capital, as well as angel investors Raymond Tonsing and Seth Goldstein.
Kiwi Crate operates a subscription service that involves producing and delivering themed crates of arts and crafts materials and instructions for children to customers each month.
Josh Kopelman, managing director of First Round Capital, said: "As an investor, I was attracted to the fact that Kiwi Crate is solving a real pain point for millions of busy but well-intentioned parents. As a father myself, I immediately ‘got it’ when I first saw the concept. On top of that, we love the subscription-based business model and the possibilities for bridging the online/offline gap."