The operation was led by Oltre Impact, the first fund with an Italian impact focus, and by Cdp Venture Capital through the Acceleratori Fund.
Win investors the tech Faba storyteller. There startup Italian, which operates in theEduTech and which ‘brings together’ smart toys and audio editorial content dedicated to children, has in fact announced that it has closed a investment round Series A from 3.7 million euros. The operation was led by Oltre Impact, the first fund with an Italian impact focus, and by Cdp Venture Capital through the Acceleratori Fund. The round was coordinated by the advisor Growth Capital, the leading advisor in Italy for extraordinary finance operations for startups and SMEs. Co-founded in Treviso by Matteo Fabbrini, former founder of Maikii, Foodracers, Reward and Exclama, Chiara Gava, Alessio Polo and Francesco Poloniato, Faba has quickly become the reference brand in the ‘educational entertainment’ market thanks to its storyteller.
Consisting of a sound box and over 90 ‘sound characters’ that work with NFC technology, the educational game accompanies boys and girls in the stages of growth, bringing them closer to the audiobook experience, counteracting the abuse of smartphones and tablets. Characters like Peppa Pig and Masha stand side by side with fairy tales and educational content, such as yoga classes or classical music. The stated goal, explains Faba, “is to educate while having fun without screens: an inseparable playmate capable of accompanying the growth of boys and girls from 0 to 7 years”.
And the challenge of the founders is to counter the consequences that the abuse of technology has in the life of children in the long term – such as myopia, poor posture, difficulty concentrating – becoming an ally of the parents and increasing awareness. A real multimedia library made to measure for children which for 2022 expects revenues of over 3 million euros in turnover.
The startup anticipates that it is also planning investments to enhance marketing campaigns, the development of new products and the acquisition of new talents, combining new figures from the world of e-commerce and digital with more traditional professionals and education specialists.
The 3.7 million euro round completes a path of great success: in 2021 Faba remembers having been selected to be part of the first program of FuturEd, the Accelerator of the Cdp National Network dedicated to startups that develop products and services in the EduTech field promoted by Cdp Venture Capital through the Accelerators Fund and H-Farm. In the same year, you won the Toys Award as “Electronic Toy of the Year” organized by Tg TuttoGiocattoli in collaboration with Assogiocattoli.
“This important milestone comes after three years of intense work, which allowed us to understand that our idea of Storyteller was actually the vision of a new world for boys and girls – and that we weren’t the only ones to see it this way – which makes me very proud today “comments Matteo Fabbrini, CEO and Founder of Faba.