MAGIKBEE ANNOUNCES NEW FUNDING ROUND OF $250K TO GROW EDTECH PORTFOLIO

We are delighted to announce today that Magikbee has secured a further $250,000 round of funding that will help us to continue to develop our 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. At the same time, we intend 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. He also has years of international experience across the globe that will be critical to Magikbee’s growth.

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

Explains Hugo Ribeiro, Magikbee CEO.