It was only yesterday that we were writing about children’s speaker startup Yoto launching an exclusive set of music albums. Now it has some funding news too.
The British company has raised a $17m funding round from investment firms JamJar Investments and Acton Capital Partners, according to the Financial Times. Former Imagination Technologies and Pure Digital boss Sir Hossein Yassaie was among the individual investors chipping in.
The report also offers some figures for Yoto’s business. It has sold more than 150k of its speakers – designed as a safer for children alternative to adults’ smart speakers – since launching in 2017, as well as 1m of the cards that provide music, stories and educational content for its owners. The story also cites Yoto’s prediction that it expects to generate more than $100m in revenue in 2022.
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