Stanford-StartX Fund has invested in childhood development app creator Kinedu, which counts childcare provider Advenio among its early backers.
Mexico-based childhood development app creator Kinedu has secured an undisclosed amount of series A funding from investors including Stanford-StartX Fund.
Venture capital fund Ignia led the round, which also featured Promotora Social México, BeCurious Partners, Dila Capital and Stella Maris Partners.
Founded in 2013, Kinedu has developed a digital app for children up to two years old that encourages their development through daily activities categorised by age and difficulty.
The app has been downloaded by 2 million users in more than 180 countries. Kinedu also offers a service for nurseries and daycare centres called Growee, which currently has more than 6,000 active users.
Kinedu’s content draws on research by experts including Michael Frank, an associate professor of psychology in the Stanford Center for the Study of Language and Information.
The series A cash will be used to expand Kinedu with content for children aged between two and four. The money will also support Kinedu’s market position in the US and Spanish-speaking Latin American countries, as well as entry into new markets such as Brazil.
Kinedu received $1.1m of convertible debt in a December 2017 round which featured Stanford-StartX Fund, childcare services provider Advenio, Dila Capital, Promotora Social México, Social + Capital and Stella Maris.
Advenio, Stella Maris, NXTP Labs, 500 Startups and a number of angel investors had all previously backed Kinedu, though further details could not be ascertained.
