CPE News Brief (3.1.2024) – Tokidos has raised $1.35 million in an oversubscribed pre-seed funding round from Triptyq Capital, Investissement Quebec, and Boreal Ventures.
Founded by CEO Ralph Nakhle, Tokidos, a Montreal based EdTech startup committed to reshaping the way children interact with technology. Tokidos’ PLAYCubes is a screen-free distributed and modular console designed for children to share among siblings, friends, and families.
photo credit: Tokidos
News Release
Tokidos Secures CAD $1.35 Million in Pre-Seed Funding for its Innovative Screen-Free Children Technology
February 27, 2024
Tokidos, a Montreal-based startup committed to reshaping the way children interact with technology is thrilled to announce the successful closing of its oversubscribed CAD $1.35 million pre-seed funding round. This milestone marks a pivotal moment for Tokidos as it prepares to introduce its first product, the PLAYCubes, a screen-free gaming console designed to revolutionise the way children aged 3 to 8 engage with technology.
Fueling the Screen-Free Revolution
Recent studies highlight the risks of excessive screen time for toddlers, underscoring the challenge faced by parents in finding tools that are both educational and technologically engaging for their children.
Triptyq Capital, Investissement Quebec, and Boreal Ventures headline the distinguished group of main investors who recognize Tokidos’s potential to reshape the landscape of children’s technology. Alongside these key players, Tokidos is proud to have garnered support from a series of strategic angel investors, further validating the company’s vision and propelling its potential impact.
“We are excited to welcome this group of investors. It underscores the significance of our mission to provide a screen-free alternative that fosters creativity, learning, and family connections. This investment will help Tokidos build its team and bring its first product to market and start capitalising on the large market opportunity ahead. Our vision is to create an ecosystem of products that align with children’s intelligence, recognizing a significant opportunity often overlooked by major tech companies. We’ll be offering a diverse range of games, including interactive stories, social games, and educational games, catering to various interests, age groups, and times of day.” said Ralph Nakhle, Tokidos’ founder and CEO .
“Tokidos astutely capitalises on the burgeoning economic potential of the edutainment platform sector, meeting the rising demand for interactive experiences without screens. In a market increasingly attentive to the developmental needs of children, Tokidos stands out. Guided by a founder with a profound understanding of these needs, Tokidos innovatively merges interactive hardware technology with imaginative content, presenting a comprehensive and engaging solution for our youngest users. Amidst recent regulatory changes aimed at safeguarding children in digital spaces, Tokidos’ screen-free approach is not only timely but pioneering. We at Triptyq Capital firmly believe in Tokidos’ potential to navigate this landscape, making it a key player poised to lead in this rapidly growing sector.”
“Tokidos delivers a one-of-a-kind experience with a game that is both interactive and educational. It’s creative and ingenious, and it’s a great alternative to traditional gaming systems! We are proud to support a project that will no doubt help reduce children’s screen times,” said Christopher Skeete, Minister for the Economy, Minister Responsible for the Fight against Racism and Minister Responsible for the Laval region.
“Investissement Québec is pleased to support young, creative companies like Tokidos, which are developing innovative, educational solutions for families here and abroad. Thanks to Impulsion PME, we have all the tools we need to support entrepreneurs at pivotal moments in their history,” noted Bicha Ngo, President and CEO of Investissement Québec.
Introducing Tokidos PLAYCubes
Set to launch in September 2024, Tokidos’ PLAYCubes is a distributed and modular console designed for children to share among siblings, friends, and families. With CAD $115,000 already secured in pre-orders, Tokidos is well-positioned to deliver a guilt-free alternative for parents with a captivating experience for children.
Selection of some games that will be launching in Sepptember 2024
Reservation of Tokidos’ PLAYCubes is still running for a limited-time period at tokidos.com.
Media contact:
Ralph Nakhle
ralph@tokidos.com
About Tokidos
Tokidos is a forward-thinking startup committed to reshaping the way children interact with technology. With its innovative screen-free gaming console, PLAYCubes, Tokidos aims to provide an alternative that not only entertains and stimulates children but also empowers them with a tech product designed exclusively for their age group. For more information, visit Tokidos.com.