Landzo, a Chinese EdTech company providing educational robots and STEAM education toys, recently announced that it had raised $29.23 million in Series A funding in June.
According to a press statement from the company, investors who participated in the round included GeniLink Capital, CTV Golden Bridge, the Nanjing Municipal Government Fund as well as some funds that regularly invest in publicly traded companies specializing in culture and education.
Founded in 2011, Landzo focuses on the development of AI teaching tools and toys in STEAM education. The company remains committed to innovation and practices in STEAM education. Currently, it boasts of 5 brands: Landzo Electronic, Landzo AI and Robotics, Landzo Planet, Landzo STEAM Institute, and Landzo Education.
Speaking about the company, Yuan Yan, e-commerce director of Landzo, said,
"Landzo is committed to creating a new education portfolio that combines products, scenarios, and enriched content. In 2020, Landzo's revenue exceeded $154.61 million, of which, its home-end AI robot and toy businesses had increased by nearly 700% from $4.64 million to more than $30.92 million. This year, the e-commerce side is expected to exceed $77.31 million yuan."
Landzo has always been committed to advancing the development of STEAM education in China by providing complete, efficient, and sophisticated STEAM educational models and solutions, including intelligence and innovation labs for universities and colleges, and a full range of quality-oriented education solutions for primary and secondary schools.
In 2019, Landzo came up with the concept of combining playing and learning as a model for the future of education and began to develop toys and teaching tools for quality-oriented education, integrating its proprietary products with online interactive courses. In early 2020, Landzo started to develop and manufacture AI educational robots for children. The company created Quincy, an AI-enabled consumer robot featuring mechanical arms and movement interactions. The company's plan is to provide children with AI educational robots that make learning more fun, delivering a complete education solution to parents. When it comes to the development of other teaching tools and toys, Landzo successfully rolled out Landzo Planet voiced stories and comics in July of this year, in addition to proprietary card-based educational games, stimulating children's motivation to learn with educational toys.
Landzo has to date received $46.38 million in financing. Prior to this round, the company had obtained $15.46 million in 2019, formally entering the family consumption market.