Brazil-based app developer Playkids has secured $15m from parent company, mobile commerce platform Movile, TechCrunch has reported.
Movile supplied the cash from a $40m series E round provided by media and e-commerce company Naspers in April this year. It previously allocated $10m of the $55m raised in its August 2014 series D round to fund Playkids the same month, having previously invested $5m in March 2014.
Playkids has developed educational games and videos aimed at children aged up to five years old. It has also created a service for parents, through which they can message their children, pre-select videos and see an overview of their children’s activities.
The funding will be used to develop new products within the next 12 months. The company’s offering is currently available in 27 countries, but it has no plans to expand further this year and will instead focus on strengthening its position in existing markets.
Playkids is currently still a unit within Movile, though Eduardo Henrique, head of global expansion at Playkids, has hinted that it may be spun out.
Henrique said: “We want to be a hub of educational entertainment. The idea of a passive experience where kids just watch videos is not exploring the technology can we can offer today. Kids can interact with the screen, play educational content, read music and more.
“This is first version of many things that we can create to bring parents to the platform. Our intention is to invest more in information for parents and tools for parents and kids.”
– Image courtesy of Playkids