Portuguese edtech startup Magikbee secures $250k of additional funding

magikbee-founders

The Braga-based edtech startup Magikbee has just secured a further $250,000 round of funding that will help the young company to continue to develop its edtech portfolio. Over the past two years, the company has introduced a number of innovative technologies in the education segment, including Magik Play, a set of interactive building blocks that synch with the iPad, and a video streaming app for preschoolers called kiddZtube.

In addition, building on the same technology found in Magik Play, the company recently launched Magik Book – a paper catalogue that links to a tablet, with digital content synchronised to each page. The funds raised will be used to roll out an SaaS platform for Magik Book, aimed at small businesses looking to use this technology as a marketing tool. At the same time, the company intends to further expand the content and customer
features of its video app, kiddZtube.

The latest round values the company at $3.3 million and is funded by Portuguese angel investor Ideias Glaciares, which also led the first round, Bluemind Investments and a private investor, James Fitzgerald, Global Vice-President of Silicon Valley-based cloud services company ServiceNow. James, who will join Magikbee’s Board, successfully led ServiceNow’s expansion in Asia and has years of international experience across the globe that will be critical to Magikbee’s growth.

Magikbee CEO Hugo Ribeiro stated: “We are delighted to have investors that share our vision and our passion. This round represents an important milestone in the company’s strategy, allowing us to expand the team, strengthen the product offering and test the market with some new products.”

Founded in 2015, Magikbee is a member of the Portuguese Startup Braga Innovation Hub and a Microsoft Ventures partner. Magikbee’s mission is to reimagine kids’ education by using their own actions and choices to teach them in a fun and engaging way – and in a safe environment.