Readmio raises €1M. It develops an app with fairy tales for children
09 January, 2023, 17:50
The Prague-based startup Readmio which develops an app full of stories and tales for children has raised €1 million for international expansion. The round was led by Zero Gravity Capital, with the participation of DEPO Ventures.
- Founded in June 2020 by Ilya Novodvorskiy, Jozef Simko, and Rado Rajcan, Readmio app offers over 350 stories in Czech and Slovak and over 250 in English. It has been downloaded by more than 300,000 people, that spend more than 80,000 hours in the app.
- Readmio’s mission is to help parents spend more quality time with their children, reading engaging stories that support mental development, foster imagination, and instill humanity. The idea of the startup is that parent simply opens the app, selects a fairy tale, and reads the prepared text.
- The app also has some gamification elements. For example, the device makes water splash when the hero of the fairy tale threw something into the river, starts singing birds when sparrows are supposed to be chirping, or starts cheering crowds of people when it’s time to sing about the emperor’s new clothes.
- At the end of 2020, Slovak venture capital fund Zaka sent 13 million crowns to the project. Last April, the startup celebrated 100,000 users, at the beginning of this year it already boasted 200,000.
- The fresh round was led by one of the top 5 most active Slovak VC funds in H2 2022 Zero Gravity Capital with a total amount of fund size is €23 million. Prague-based DEPO Ventures also participated in the investment.
- Readmio’s team will use the money to expand to other countries and acquire more users.