By Emmanuel Legrand
Yoto – the London-based audio platform for kids – has raised $17 million in a Series A funding led by Acton Capital with participation from JamJar Investments, Global Founders Capital, Emerge Education, as well as MPL Ventures.
The funds will be used to invest in the platform's growth in Europe and North America.
The company launched in 2020 its Yoto Player, a connected device which allows children to select what they want to listen (stories or music) through selected audio cards.
The company has content licenses in place with Penguin Random House, Sony Music, HarperCollins, Hachette, Macmillan, among others.
Putting children in control
“We designed Yoto around our own kids and we’ve seen how amazing it is to give kids control of their own listening. I’ve seen how this really does help with creativity and imagination compared to screen-time and the research backs that up,” said Ben Drury, CEO and co-founder of Yoto.
“In times where kids are growing-up on screens, one of the most important skills they need is to be able to use technology consciously and with balance. Yoto’s proprietary audio platform puts children in full control of how and when they consume audio content,” explained Fritz Oidtmann, managing partner at Acton Capital. “What further convinced us to invest was Yoto’s unique approach to combining native content with carefully curated partnerships.”
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