Poio adds investment from Schibsted and Halgrim Thon to build and sell more game-based learning tools.
Poio, an Oslo, Norway-based company developing a family of apps for education of childern, secured NOK 6M ($1M) as strategic investment in the company.
The money comes from Norwegian media company Schibsted, through its investment arm, Schibsted Growth, which paid NOK 4M for a 12.5% equity stake in a deal that values the company at NOK 32M ($4M). Norwegian angel investor Halgrim Thon was also part of the transaction, getting 6.25% of the shares.
Poio, founded in 2016 and led by CEO Daniel Senn, launched Readlings, an app that helps kids learn how to read through gaminfication. The app costs NOk 199 ($25) and has about 25,000 customers in Norway.