Yoto, the creator of Yoto Player and Yoto Mini children’s products, has secured $22 million in additional funding to support its global growth strategy.
Latest investment by Chan Zuckerberg Initiativeparticipants from DNS Capitaland existing shareholders of Yoto, Acton Capital and burda principal investmentAccording to a press release issued last week (June 21).
telegraph The report quoted a Yoto spokesperson as saying Mark Zuckerberg and his wife Priscilla ChanCharitable investment funds invest in various places $11 million The valuation of Yoto is $182 million.
Chan Zuckerberg Ventures reportedly quietly invested in Yoto late last year telegraphroughly taking 10% bet. Vivian WuThe fund’s managing partner has reportedly joined Yoto’s board of directors.
Ben Drury and Philip Denk Founded in 2017, Yoto is a device that allows kids to access music and audio without being exposed to ads, inappropriate content or increased screen time.
this yoyo player is a small speaker that uses a physical card called utoka, each containing specific content, such as a storybook, album, or set of songs. Insert the card into the Yoto player and install it to play the corresponding audio content.
This financing closes in October 2023 after a successful year for Yoto. The company launched its third-generation Yoto Player in the summer of 2023 and has grown rapidly since then.
Yoto said the latest investment will support its continued expansion into new global markets, continued product improvements, and expansion of its content library and Yoto Originals publishing arm.
Wu Weiwei“We are pleased to support the Yoto team and their innovative products to help young children develop curiosity, creativity and listening skills,” said Chan Zuckerberg Initiative Venture Capital Managing Partner.
“This investment will help more schools gain access to these beloved products, allowing the team to conduct more research and expand their library of educational content.”
Wu WeiweiChan Zuckerberg Initiative
“This investment will help more schools gain access to these beloved products, allowing the team to conduct more research and expand their library of educational content.”
Since the second generation of Yoto Player was launched via Kickstarter in 2020, the app has gained popularity in the UK, France and North America. The company has partnerships and content deals with well-known brands, such as Disney, Penguin Random House, Universal Music Group, and Warner Music Group.
“This new investment not only helps further expand our best-in-class team at the forefront of driving market and product growth, but also provides the resources to develop our trusted ecosystem that brings value to many families around the world.”
Ben DruryYutto
Yoto’s growing library offers more than 1,200 An audio experience for children from birth to 12 years old. This includes classics like CS Lewis The Chronicles of Narnia and stories by Roald Dahl, as well as content from modern authors and figures such as Peppa Pig, Paw Patrol, Daniel Tiger and Sesame Street.
Yoto recently launched a collection of classic music albums in Yoto card format, including Queen: Greatest Hits Volume 1 and The Beatles’ Red and Blue album.
Ben Drury“At Yoto, we have a vibrant culture of innovation,” said Yoto CEO and Co-Founder. “This new investment will not only help further expand our best-in-class team at the forefront of driving market and product growth, but also provide resources to develop Our trusted ecosystem brings value to families around the world.
“While we focus on adapting, growing and expanding our products, our commitment to nurturing children’s independence and inspiration through listening, learning and play remains at the core of everything we do and as we continue to grow sustainably The core of the trajectory.
global music business
