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Seattle tutoring app Kadama gets quick lesson in success as it raises $1.7M, grows social following

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The Kadama team, from left: Marwan El-Rukby, Amin Shaykho and Dani Shaykho. (Kadama Photo)

New funding: Kadama, the Seattle-based tutoring app which seized on its quirky social media presence to attract millions of followers and customers, has raised $1.7 million in a seed round announced on Monday.

PREVIOUSLY: Seattle tutoring app founders learn to harness TikTok to build a huge base of potential users

The startup: Kadama was founded five years ago at the University of Washington as a multi-services idea, but launched several months ago in its current educational iteration. Through its free iOS app, the company provides an online tutoring service for both students who need help and tutors who are looking to connect with those students.

Amin Shaykho, the CEO, is leaving his full-time job as a software engineer at Apple; COO Marwan El-Rukby, is leaving his full-time job as an analyst at Getty Images; and Dani Shaykho, the VP of product marketing, is still a computer science and marketing student at UW.

Growth: Kadama seized on the pandemic to attract Gen-Z users forced into remote learning. Much of its promotion has been through TikTok, the video-sharing platform where Dani Shaykho offers up an endless variety of “hacks” related to everything from homework to smartphone shortcuts.

The app rose to a No. 2 ranking in the App Store under education and Kadama has 2.5x revenue growth month over month. The brand has attracted 2 million followers on TikTok and Instagram and 500 million views on those sites.

“As a team of students and recent college graduates, we are shocked to see the level of virality and relatability our brand has towards millions of students,” Amin Shaykho said. “We have never seen people our age talk about learning apps outside of the classroom.”

New features: The startup has introduced Kadama Events, which includes such things as weekly trivia and gaming tournaments, engaging with students beyond their tutoring needs. Kadama Rewards is also new, as a way for students to win rewards for getting help on Kadama. The more lessons a student gets, the more prizes they can win. Tutors can also win rewards for helping students and unlock badges that display on their profile.

Investors: The funding round was led by Grishin Robotics. Russian investor Dmitry Grishin, founder of Mail.ru, has joined the Kadama board.

“This past year has made it clear that existing models of education are outdated,” Grishin said in a statement. “Kadama exists where Gen-Z students already spend their time: on their phones, on TikTok and social media.”

What’s next: Kadama will use the cash to hire software engineers to help build its upcoming Android app and develop new product features on its iOS app. It will also be expanding its marketing efforts by partnering with large social media influencers that appeal to Gen-Z. The team is expected to grow to seven to 10 people and there are plans for a new Kadama headquarters in the Seattle area, which will include a studio for creating and expanding its content.

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Source: https://www.geekwire.com/2021/seattle-tutoring-app-kadama-gets-quick-lesson-success-raises-1-7m-grows-social-following/

Start Ups

Sequoia backed Skillmatics raises INR 22.47 Cr in Series A round

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Skillmatics, which offers products for child skill enhancement, has raised INR 22.47 Cr in Series A round. According to MCA filings, Skillmatics placed a private placement offer in April to issue total 2,50,807 series A convertible preference shares to raise funding of nearly INR 22 Cr.

Smiti Holding and Trading Company has led the Series A round by contributing almost INR 15 Cr in the round. Smiti Holding has been allotted 1,67,205 convertible series A shares for its contribution. As per our reports, Vita Dani, owner of Indian Super League (ISL) franchise Chennaiyin FC, is one of the directors of the company. Dani is also the cousin of Reliance Industries Chairman Mukesh Ambani.

Dubai based Saanush Holdings and Patni Wealth Advisors have individually contributed INR 3.22 Cr. They both have been allotted 34,043 series A convertible shares.  Sohel Shikari and Ravi Nigam are other two angel investors who have participated in this round.

MCA filings have also revealed that Skillmatics had raised INR 22 CR in pre-series A round last year. Sequoia had led the pre-series A round by pumping almost 21 Cr in the round.

Skillmatics was part of the Sequoia Surge’s first cohort batch in 2019.

Based in Mumbai, Skillmatics is essentially a full-stack direct-to-consumer brand that develops innovative educational products and games. These innovative products have been designed to help children build core skills and improve their academic performance, the company claims. Dhvanil Sheth is the founder of the company.

The company claims to sell its products to more than 15 countries across the world. The company facilitates its global sales mostly through an international network of 3,000+ retail stores. In 2019, it became the first-ever Indian brand to sell across Hamleys globally.

The MCA filing revealed that the company had earned a revenue of Rs 14.82 Cr in Fy20 as compared to Rs 5 Cr revenue in Fy19.

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Source: https://www.techpluto.com/sequoia-backed-skillmatics-raises-inr-22-47-cr-in-series-a-round/

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Start Ups

Sequoia backed Skillmatics raises INR 22.47 Cr in Series A round

Published

on

Skillmatics, which offers products for child skill enhancement, has raised INR 22.47 Cr in Series A round. According to MCA filings, Skillmatics placed a private placement offer in April to issue total 2,50,807 series A convertible preference shares to raise funding of nearly INR 22 Cr.

Smiti Holding and Trading Company has led the Series A round by contributing almost INR 15 Cr in the round. Smiti Holding has been allotted 1,67,205 convertible series A shares for its contribution. As per our reports, Vita Dani, owner of Indian Super League (ISL) franchise Chennaiyin FC, is one of the directors of the company. Dani is also the cousin of Reliance Industries Chairman Mukesh Ambani.

Dubai based Saanush Holdings and Patni Wealth Advisors have individually contributed INR 3.22 Cr. They both have been allotted 34,043 series A convertible shares.  Sohel Shikari and Ravi Nigam are other two angel investors who have participated in this round.

MCA filings have also revealed that Skillmatics had raised INR 22 CR in pre-series A round last year. Sequoia had led the pre-series A round by pumping almost 21 Cr in the round.

Skillmatics was part of the Sequoia Surge’s first cohort batch in 2019.

Based in Mumbai, Skillmatics is essentially a full-stack direct-to-consumer brand that develops innovative educational products and games. These innovative products have been designed to help children build core skills and improve their academic performance, the company claims. Dhvanil Sheth is the founder of the company.

The company claims to sell its products to more than 15 countries across the world. The company facilitates its global sales mostly through an international network of 3,000+ retail stores. In 2019, it became the first-ever Indian brand to sell across Hamleys globally.

The MCA filing revealed that the company had earned a revenue of Rs 14.82 Cr in Fy20 as compared to Rs 5 Cr revenue in Fy19.

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Source: https://www.techpluto.com/sequoia-backed-skillmatics-raises-inr-22-47-cr-in-series-a-round/

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Start Ups

Berlin-based healthtech startup Lykon raises €6.4 million and acquires AI Gaia Nutrition

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HealthTech startup Lykon has raised €6.4 million in its Pre-Series A funding round, led by MA Ventures, the venture capital fund of the Migros Aare cooperative (managed by Redstone), and IPPEN.MEDIA, a big German media house with one of the largest online media networks. Also joining this round were other investors such as family offices and business angels.

In addition to the fresh funds, Lykon has acquired Gaia Nutrition, one of the technology leaders for personalized nutrition plans. The acquisition was closed earlier this year, strengthening its authority in data-driven personalisation of food products and nutrition recommendations.

Founded in 2015, Lykon is Germany’s market leader for personalized nutrition concepts based on certified blood and DNA tests. Supported by machine learning and artificial intelligence, Lykon provides users with customized nutritional recommendations, recipes, products and a guidance for better health.

Benefitting from people’s increased awareness of health issues and increased openness to self-testing, in recent months the startup has substantially expanded its customer base.

Lykon’s founder and CEO Tobias Teuber commented on the new funding round: “Our new investors are a perfect fit at this stage of our company’s growth, as they not only bring us funding, but also provide us with expertise and access to new distribution channels and markets. This will take us even closer to our goal of making 100 million people healthier thanks to customized nutrition.”

The new funds will be used to continue to improve the customer journey and develop the technology. A further Series A financing round is envisaged for the end of 2021/early 2022.

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Source: https://www.eu-startups.com/2021/06/berlin-based-healthtech-startup-lykon-raises-e6-4-million-and-acquires-ai-gaia-nutrition/

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Start Ups

Berlin-based healthtech startup Lykon raises €6.4 million and acquires AI Gaia Nutrition

Published

on

HealthTech startup Lykon has raised €6.4 million in its Pre-Series A funding round, led by MA Ventures, the venture capital fund of the Migros Aare cooperative (managed by Redstone), and IPPEN.MEDIA, a big German media house with one of the largest online media networks. Also joining this round were other investors such as family offices and business angels.

In addition to the fresh funds, Lykon has acquired Gaia Nutrition, one of the technology leaders for personalized nutrition plans. The acquisition was closed earlier this year, strengthening its authority in data-driven personalisation of food products and nutrition recommendations.

Founded in 2015, Lykon is Germany’s market leader for personalized nutrition concepts based on certified blood and DNA tests. Supported by machine learning and artificial intelligence, Lykon provides users with customized nutritional recommendations, recipes, products and a guidance for better health.

Benefitting from people’s increased awareness of health issues and increased openness to self-testing, in recent months the startup has substantially expanded its customer base.

Lykon’s founder and CEO Tobias Teuber commented on the new funding round: “Our new investors are a perfect fit at this stage of our company’s growth, as they not only bring us funding, but also provide us with expertise and access to new distribution channels and markets. This will take us even closer to our goal of making 100 million people healthier thanks to customized nutrition.”

The new funds will be used to continue to improve the customer journey and develop the technology. A further Series A financing round is envisaged for the end of 2021/early 2022.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.eu-startups.com/2021/06/berlin-based-healthtech-startup-lykon-raises-e6-4-million-and-acquires-ai-gaia-nutrition/

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