The MTS Venture Fund has bought a minority stake in the Belarusian startup LogicLike, which is developing an online educational platform improving logic and thinking in children. This was reported to RB.RU by an MTS representative.
The amount of investments and the received share are not disclosed, however, it is known that the MTS venture fund invests in startups at an early stage from $500,000 to $5 million.
LogicLike is a Belarusian a developer of a mobile app for children from 5 to 12 years old. The app is boosting logic and thinking, and runs on web and mobile apps (iOS, Android), it has 8 million users. The company was founded in 2013; the app was launched in 2018.
The service supports six languages: Russian, English, Ukrainian, German, Polish and Czech. The content library contains over 30 topics, including tasks for logic, attention development, general world knowledge, geography and chess, as well as over 4.5 thousand tasks of various types: puzzles, riddles, word games, etc.
Tasks are offered to the child depending on the age and level of complexity. Parents can monitor the number of tasks solved in their personal account.
“We are seeing an annual increase in preschool education: from 2.7% to 6.8% over the past five years. The venture fund is investing in a project that has high growth potential and significant value for ecosystem customers,”
Islam Midov, head of the MTS venture fund.