Novakid, a San Francisco-based English learning as a second language platform, closed Series A financing of $4.25 million from a group of US, Asia and Europe-based investors.
The round was led by a Hungary-based PortfoLion (part of OTP, a leading banking group in Eastern Europe), and joined by US edtech fund LearnStart, TMT Investments and Xploration Capital. Seed investors BonAngels and LETA Capital also took part in this round.
The company intends to use the fund to support growth by fostering marketing activities and further product innovation.
Founded in 2017, Novakid provides online ESL learning lessons with native speaking certified teachers for children ages 4-12 with AI-assisted data extraction and analysis. It has students in over 30 countries, focusing on Europe and MENA with major customer base in Poland, Spain, Italy, Turkey, and Russia.
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