Lingokids startup teaches English digital games children up to 8 years old, raises 33 million euros in a Series C round.

Lingokids, a Spanish edtech specialized in digital content to teach English to children between 2 and 8 years old, has just raised 33 million euros in a Series C funding round.

The operation has entailed the entry into the firm of international investors such as GP Bullhound, maintaining the confidence of previous investors such as HV Capital or the German gaming company Ravensburger, which injected 7.5 million euros in October last year, when it closed its Series B.

In this way, Lingokids becomes one of the Spanish edtech startups to follow this 2021, having closed four rounds, and two in less than a year. It was founded in 2016 and has raised more than 50 million euros. Its EBITDA has been positive since 2020: in the year of the pandemic, its turnover tripled, exceeding 24.5 million euros; and its users, already more than 30 million families worldwide.

Lingokids startup teaches English digital games children

Now the company expects its user base to reach 50 million this year and 100 million by 2022. To do this, the firm hopes to take advantage of this injection of capital to consolidate and consolidate its international growth, especially in one of its main markets, the United States.

"This is the next step for our global expansion, demonstrating the interest of international investors in the edtech sector, which has experienced a great impulse that has not stopped growing this last year," said Cristóbal Viedma, CEO and founder of the company. "We will be able to reach even more families to help children learn through the most effective method there is: play."

Lingokids startup teaches English digital games children: Jasper Masemann, partner at HV Capital, has explained that "despite the existing competitors in the sector", Lingokids is "the only one who has achieved a growth rate as fast, and at the same time build a business model with own content, very attractive, secure, and no ads". "HV has invested in every round Lingokids has raised. We are very proud to be able to continue this journey."

For his part, Per Roman, co-founder and managing partner of GP Bullhound, stressed how the pandemic "has accelerated the digitalization of education". "We are witnessing the great moment that the edtech sector is experiencing. With this new investment, we are proud to support Viedma and its team in their mission to break down educational barriers and create equal opportunities for children around the world."

Lingokids startup teaches English digital games children

In addition to its international expansion, the Spanish firm intends to expand its workforce by up to 60% with the hiring of 60 new technology professionals "to develop machine learning projects and content in podcast format on topics such as mental health or meditation for young ages", Lingokids highlights in a statement.

The platform argues that "will continue its support for the creation of educational content, quality, focusing on the development of activities related to areas of knowledge, STEM learning-called soft skills (emotional intelligence, empathy or critical thinking)". They are also working with Ravensburger on offline toys that will complement their offering.

Lingokids startup teaches English digital games children: Lingokids is one of the most highlighted startups by investment funds that follow the edtech ecosystem in Spain.

Before knowing this new round, Samuel Gil, of JME Ventures, abounded that it is the startup of the sector "with the largest size and growth". Jorge Barón, from Adara Ventures, reminded that it has the support of reference funds and during the pandemic gave free licenses to schools and NGOs. Hugo Fernández-Mardomingo, of All Iron Ventures, drew attention to the freemium model offered by the platform, which through its paid version gives children around the world access to more than 600 games, songs and videos, and also a module for parents with which parents can see the progress of their child.

Lingokids startup teaches English digital games children

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Lidl continues to grow in Spain: it has created 2,000 jobs in 2020 and this year it plans to make an investment of 400 million euros to strengthen its commercial and logistics network

Lidl's growth in Spain is indisputable. At the end of its last fiscal year (between March 1, 2020 and February 28, 2021) the company has made an investment of 350 million euros. This effort has resulted in the opening of 40 new stores throughout the territory and the opening of a new logistics platform in the town of Agüimes (Gran Canaria).

In addition, throughout the year 2020 Lidl has created 2,000 new jobs, thus continuing a path that has allowed it to generate 5,900 jobs in the last five years, translating this into an increase of 36% in its workforce.

As confirmed by the company in a statement, this growth will continue to consolidate over the coming months: Lidl expects to make a record investment of 400 million euros in 2021. The objective is to consolidate its commercial and logistics network throughout the territory.

In this sense, Lidl aims to open another 40 new stores in Spain, in addition to inaugurating its new logistics centers in Escúzar (Granada) and Martorell (Barcelona). It should also be noted that its new reference logistics platform for northern Spain, located in Nanclares de la Oca (Álava), will be launched next autumn.

"In an extremely difficult year for everyone, we have learned to adapt to the circumstances and to react by focusing our efforts on ensuring the health and safety of our employees and customers, guaranteeing the supply of our stores and redoubling our commitment to Spain," announced the managing director of Lidl Spain, Claus Grande, referring to the good results of the last fiscal year.

Lidl's commitment to Spain is not only about job creation, but also focuses its efforts on its commitment to strengthen its position as the main buyer and exporter of the country's agri-food industry. In fact, in 2020 Lidl acquired national product for 5,200 million euros, 13% more than in 2019.

The supermarket chain also wants to highlight that it is expanding its assortment of regional products available in its stores, thus responding to the increasingly important demand for this type of items.

Finally, Lidl announces that it will continue to incorporate more BIO references to its assortment, as it intends to lead the penetration of this category in Spain.