Author: Juan Fajardo
Sandbox, a millennial education company based in London, has acquired Brazilian education startup PlayKids, expandings its offerings and reach in Latin America.
PlayKids, which has raised over $15 million in funding, is recognized as one of the most relevant EdTech startups in the market with more than 4 million monthly users. The platform offers content curated by education specialists to more than 190k families in countries like Argentina, Australia, Brazil, Canada, China, France, Mexico, and the United States, having a reach of more than 130 countries. The acquisition comes as Movile, PlayKids’ majority owner, will become a minority investor in Sandbox. The company’s experience in the Brazilian, Latin American, and Global Market will help Sandbox solidify its status as one of the top online learning organizations in the world. Silvia Motta, Strategy and M&A Director at Movile, referred to the acquisition by stating: “Movile’s goal is to build leading companies that can transform the world, help them solve challenges, and accelerate their growth. We have built PlayKids from an app serving a few thousand learners to a globally recognized children’s education platform in the last few years. With the great talent, know-how and entrepreneurial grit that Sandbox offers, the combination of the two businesses will deliver engaging educational experiences and improve learning around the world. We look forward to continuing on this journey with Sandbox.”
Having joined Sandbox, Playkids and its Leiturinha children’s book club will become part of a portfolio of over 17 brands that reach over 60 million kids, families, and teachers around the world every month. By bringing the world of technology, learning, and media together, Sandbox seeks to make the learning experience more fun and engaging for kids, bringing education to the 21st century. Bhav Singh, Founder and CEO of Sandbox, referred to the role the newly-acquired startup will play in this mission by stating:
“We have been big fans of PlayKids and Leiturinha and are delighted to welcome them to the Sandbox family as a perfect complement to our existing suite of products. I’m excited to have Guilherme Martins, CEO of PlayKids, on board to lead the rollout of our wider portfolio into LatAm and am equally thrilled that Movile is joining us as shareholders as we continue to build towards an industrial-scale enterprise focused on ‘super serving’ millennial and Gen Z families.“
EdTech Venture funding has experienced rapid growth ever since the start of the Covid19 pandemic. According to HolonIQ, 2021 saw over $20.8 billion being invested in EdTech startups across the world like China and the USA lead the race for the digitization of education. With the size of the global edtech market being expected to more than double by 2027, the timing is great for young entrepreneurs looking to revolutionize education.
Article courtesy of our content partner site Grit Daily
About the Author
Juan Fajardo is a News Desk Editor at Grit Daily and ParlayMe Contributor. He is a software developer, tech and blockchain enthusiast, and writer, areas in which he has contributed to several projects. A jack of all trades, he was born in Bogota, Colombia but currently lives in Argentina after having traveled extensively. Always with a new interest in mind and a passion for entrepreneurship, Juan is a news desk editor at Grit Daily where it covers everything related to the startup world.