MTS Venture Fund has acquired a minority stake in the Belarusian startup LogicLike, which is developing an online educational platform for the development of logic and thinking in children. This was reported to RB.RU by a representative of MTS.
MTS venture fund bought a minority stake in the Belarusian startup LogicLike
The amount of the investment and the share received are not disclosed, however, it is known that the MTS venture fund invests in early-stage startups from $500,000 to $5 million.
LogicLike is a Belarusian developer of a mobile application for the development of logic and thinking in children aged 5-12 years. The service runs on web and mobile applications (iOS, Android), has 8 million users. The company was founded in 2013, the application was launched in 2018.
The service supports six languages: Russian, English, Ukrainian, German, Polish and Czech. The content library contains more than 30 topics, including logic tasks, development of attention, the world around us, geography and chess, as well as more than 4,500 tasks of various types: brain teasers, riddles, word games, etc.
Tasks are offered to the child according to age and level of complexity, parents can control the number of solved tasks in their personal account.
“We are seeing an annual increase in the penetration rate of preschool education: from 2.7% to 6.8% in the last five years. The venture fund is investing in a project that has high growth potential and significant value for customers in the ecosystem,” Islam Midov, Head of MTS’s venture fund, commented on the deal.
Cover photo: Unsplash
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