Tinitell raises SEK 9M in a bridge round investment, heads to the US market.
Tinitell, a Stockholm, Sweden-based startup developing mobile phone for children, raised SEK 9M ($1M) in a bridge investment round. The money comes from existing and new investors, including Roman Faizov.
Tinitell, founded in 2014 by CEO Mats Horn, has developed a watch that works as a mobile phone for children. In 2016, the company sold 10k units and made SEK 6.8M ($800k) in sales, with SEK 13M losses.
At the same time, Tinitell announced joining the Alexa Accelerator, a joint program by Amazon and Techstars.
Prior to this transaction, Tinitell raised about $4M in outside equity investment.