Streamience raises SEK 7M for further development of children's app Jaramba.

Sweden Investments 03 May 2017
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Streamience, a Stockholm, Sweden-based new media company, announced raising 7 MSEK ($810k) from existing shareholders and new investors.

Streamience, founded in 2012 by CEO Peter Sjöström, is the develeper of the app-enabled streaming service for kids Jaramba. Jaramba was launched in August 2016 and has held the No 1 position on the App Store list for kids as well as being the top 10 best grossing iPad apps. In the past 6 months, over 1 million books, games, puzzles, videos and other interactive activities have been read and played by the children using Jaramba.

The additional funding will mainly be used for further content development and marketing.

Prior to this transaction, Streamience received almost $600k in funding, with Propel Capital as one of the main outside investors of the company.