The Helsinki-based venture capital fund Gorilla Capital has invested in Lola Panda, the app that provides learning games for children in preschool and early education, developed by the Finnish startup BeiZ. The investment amount was left undisclosed.
About Lola Panda
- Founded in Tampere, Lola Panda is a gaming app that allows children to learn to read, count, solve problems, and develop their logical thinking. The educational applications are being developed by the Finnish game studio BeiZ and have been downloaded more than 40 million times in 12 different language areas.
Learning to read is a challenge, even in countries with a high level of education. For example, in the United States, only 32% of fourth-grade children can read well. The learning model of Lola Panda applications has been adapted to suit different language areas based on learnings from previous Lola Panda applications. Lola Panda’s reading apps have been available in ten languages for years, so the company has been able to develop a solution to this big, global problem,
Mika Heikinheimo, Founder at BeiZ, says.
Investment details
- The fresh investment was led by Gorilla Capital, Finland’s VC fund positions itself as a Nordic industrial Super-angel. The firm invests in early-stage technology companies from Finland, Sweden, Denmark, and the Baltics.
Lola World learning application is in the early stages of the development path, but it is already one of the best solutions and it has already helped thousands of children to read. Now the company must deliver on its promise and offer even larger language areas the most fun way to learn to read,
Risto Rautakorpi, Founding Partner at Gorilla Capital, comments.
- The company will use the investment to further development of its learning games and offer even larger language areas the most fun way to learn to read.
In February this year, Gorilla Capital also supported a €890,000 investment for DealGuru.
