Novakid Inc, a San Francisco, Calif.-based EdTech brand enabling learning English as a second language for children ages 4-12, closed of a $4.25m Series A financing.
The round was led by a Hungary-based PortfoLion (part of OTP, a banking group in Eastern Europe) and joined by EdTech-focused US fund LearnStart (part of LearnCapital VC family, TMT Investments, Xploration Capital and seed investors BonAngels and LETA Capital.
The company intends to use the funds to support growth by fostering marketing activities and further product innovation.
Led by Max Azarow, Co-founder and CEO, Novakid is an online ESL learning IT-platform offering individual lessons with native speaking certified teachers for children ages 4-12 with AI-assisted data extraction and analysis. Incorporated in the US, the company has over 150 staff and students in over 30 countries, focussing on Europe and MENA with major customer base in Poland, Spain, Italy, Turkey, Russia.