China-based children’s digital content platform KaDa Story has secured almost RMB100m ($14.4m) in a series A-plus round that included online game developer 37 Interactive Entertainment.
Growth capital firm Trustbridge Partners led the round, which also featured TAL Education, an after-school tutoring services provider in China.
KaDa Story has created an online platform that provides curated audio books and picture books for children up to nine years in age, taking stories from around the world and prioritising original literature.
The company’s content recommendation system can select books for children based on their interests, educational requirements and reading habits, and it works with clients such as publishers, kindergartens and public libraries to help select reading material.
The funding will be used to upgrade KaDa’s content, user experience and distribution network. It claims to be active in 162 countries and have more than 200 partners, and plans to work with children’s publishing houses backed by Trustbridge, such as Everafter Books, Bayard Bridge Books, Baby Cube and Holiday House.
Li Yifei, 37 Interactive’s founder and president, said: “37 Interactive Entertainment will cooperate closely with KaDa Story in all aspects, working to explore more learning scenarios and more efficient learning methods. The objective is to bring more fun to our children’s learning experience and create a better world for them.”
Image courtesy of KaDa Story.