Poio adds investment from Schibsted and Halgrim Thon to build and sell more game-based learning tools.

Norway Sweden Investments 22 April 2018
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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.

Prior to this investment round, Poio raised money twice - 1 and 2 - with backing from Founders Fund and Norwegian angel investor Johan Brand. Johannes Stensen, the CTO of the company, also owns 6.6%.