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13 May 2024·2 min read

Joy Laoun

News Editor, Vestbee

Lithuanian educational toy subscription service LILEDU raises €500k led by FIRSTPICK

Vilnius-based educational toy subscription service LILEDU has raised €500,000 led by FIRSTPICK. HEARTFELT_, BADideas.fund, and angel investors also joined. The funding will help LILEDU expand its service in the UK and Germany.

  • Lithuanian LILEDU was founded in 2020 by Laurynas Pamparas. The startup offers a monthly subscription service that provides kids with age-appropriate educational toys. The play kits are designed for different age categories ranging from 6 months to 7 years, featuring sets of premium, personalized items tailored to a child's specific developmental stage.
  • The service works as follows: parents choose the perfect play kit for their child's age, with monthly kits valued at up to €140 shipped the next day. The startup's aim is to encourage exploration and learning through age-appropriate toys and activities. 

Details of the deal

  • The investment was led by FIRSTPICK, a Vilnius-based venture capital firm that invests in the Baltic tech startups from various sectors, including fintech, SaaS, deeptech, and consumer marketplaces. The initial tickets range between €50,000 and €250,000.
  • Berlin-based VC HEARTFELT_ i that invests in European pre-seed startups, together withearly-stage VC BADideas.fund, and angel investors also joined the funding round

“After extensive market research, we chose the UK and Germany as our initial focus for expansion. We launched our pilot in the UK and quickly met our KPIs through actual sales, not just waitlists,” Founder of LILEDU, Laurynas Pamparas, commented.

 



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