Novakid raises €1.3 million from LETA Capital and the South Korean VC BonAngels.

Novakid, a Krakow, Poland-based startup building a business around an educational platform for kids, announced that it raised a €1.3 million ($1.4M) funding round.

The money was raised from investors including LETA Capital and the South Korean VC BonAngels.

Novakid, founded in 2017 by CEO Maxim Azarov, built an online English language school aimed at children aged 4-12 years, where all qualified teachers are native speakers.

The lessons are taught using an in-house built Web platform, which is enhanced with virtual reality and gamification technologies in order to provide children with full immersion during the process of language learning.

Novakid brough in revenue of about €1.8 million in 2019, tripling from the previous year, and the company plans to maintain the same growth trajectory in 2020.