Lingokids secured $8.6m in funding.

Lingokids, a Madrid, Spain-based English company operating a business operation for providing learning services for preschool and elementary school children, announced closing a $8.6M financing in the company.

The money is a combination of equity and grants. Equity totals $7.3M and was provided by new investors Reach Capital, Athos Capital and All Iron Ventures joining existing backers HV Holtzbrinck Ventures, JME Venture Capital, Sabadell Ventures, Big Sur Ventures, as well as Gwynne Shotwell, President and COO of SpaceX.

Lingokids also received an EU grant of $1.3M from EU Horizon 2020 Program.

The money will be used to further accelerate growth, hire new employees and add new features to increase user involvement and engagement.

Lingokids, founded in 2016 as Monkimun by CEO Cristobal Viedma, built a learning platform available via a mobile app providing English language learning for children in the Preschool and elementary school age. With the subscription-based language learning app, children aged 2 / 8 learn English through various activities, games and songs.