Landzo is an edtech startup that has designed and created several robots built to help improve children’s education through their functions. The company recently announced the closing of its Series A funding round to help improve business operations and increase its reach into new areas.
What Lanzo has created and the success of the products
Edtech startup Landzo has focused its work on designing toys and robots that can help educate children in the fields of science, technology, engineering, and mathematics (STEM). The recent addition of the arts to the STEM subject collection has also helped put an additional focus on creativity-based outings. Landzo serves as a way to emphasize certain creative elements while maintaining the focus on STEM.
The company has already put dozens of different STEM toys and products on the market, including a rechargeable 3D printing pen, engineering blocks that build vehicles, and various crafting boxes that focus on developing specific skills. The company has also released new STEM content, including Landzo Planet, a collection of narrated stories and comics that help educate children. The flagship item for the business is the artificial intelligence (AI) powered drawing robot, Quincy.
The edtech startup has built Quincy to perform a variety of tasks. Not only does it draw numbers and pictures based on recognizable cards provided next to the robot, but it also spells out words that match the pictures. The company has also programmed various counting and math puzzles into the product, allowing children to learn as they play. Quincy currently works fully in 10 different languages, allowing Landzo to expand its business to new regions.
The edtech startup has rapidly grown its business and is now in possession of 65 different intellectual patents and distributes its products to more than 40 different countries. Landzo now has more than 1,000 employees and has created long-standing business partnerships with various production facilities to keep up with growing demand.
Landzo financing round and future business plans
In its Series A funding round, Landzo raised more than $ 29 million in equity. GeniLink Capital, CTV Golden Bridge, Nanjing Municipal Government Fund, and several companies focusing on STEM education participated in the funding round for the educational startup.
The company plans to use the new funds to create a significant foothold in the STEM education market, especially in China, where there are more than 140 million children between the ages of 5 and 14. The edtech startup will also continue to expand its business internationally with plans to reach a fully global audience in the coming years. A portion of the newly raised capital will also go toward expanding its current number of employees to run new businesses.
Commenting on the rapidly growing success of the edtech company, Landzo’s director of e-commerce, Yuan Yan, said, “Landzo is committed to creating a new education portfolio that combines products, scenarios and rich content. In 2020, Landzo’s revenue exceeded $ 154.61 million, of which its AI robot and home toy businesses had increased by nearly 700% from $ 4.64 million to more than $ 30.92 million. This year, the e-commerce side exceeds 77.31 million yuan. “