NovaKid secures a $4.25 million Series A financing led by PortfoLion

Novakid, a Krakow, Poland-based company buidling a business based on a digital educational platform for kids, announced that it raised a $4.25 million Series A financing round.

The money was raised from investors led by Hungary-based PortfoLion and including contributions from edtech-focused US fund LearnStart, TMT Investments and Xploration Capital as well as existing investors BonAngels and LETA Capital.

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 online via a digital platform that also provides access to gamification technologies and are aimed for 4-12 years old kids based in countries where English is not a primary spoken language.

Novakid previously raised about $2 million, last round at the beginning of 2020, backed by BonAngels and LETA Capital.