TechFlow news — Zigazoo, a U.S.-based children's social media platform similar to TikTok, has announced the completion of a $17 million Series A funding round led by Liberty City Ventures, with participation from Animoca Brands, Dapper Labs, The NBA, OneFootball, Causeway, Medici VC, Lightspeed Venture Partners, Flamingo Capital, Core Ventures, and Spartan Group.
This brings the company's total funding since its launch in 2020 to $21 million. According to CEO Zak Ringelstein, the new funds will be used to expand the company’s presence in Web3, "while striving to become the leading children's social network that enables kids to directly interact with creators and brands in the children's media space."
Additionally, the company plans to continue launching new NFT collections, add more gamification elements to Zigazoo, "spark joy" through AR-powered learning experiences using QR codes, and build creator tools for creators to establish their own marketplaces.
In early April, the company launched an NFT platform featuring children's brand collections such as Moonbug Entertainment and Invisible Universe. Priced between $5.99 and $49.99 based on rarity, these NFTs can be used by children as avatars in videos and traded with other kids on the platform. (The Block)
