SoapBox Labs, a Developer of Voice Tech for Kids, Raises $6.5 Million
SoapBox Labs, a developer of voice technology for kids, has closed a $6.5 million funding round with investments from Elkstone Capital, Astia, and a number of private investors.
"SoapBox is at the nexus of some big trends right now: remote learning, voice, kidtech and data privacy," said Patricia Scanlon, the Irish company's founder, in a statement. "We've invested deeply over the last seven years in our people and our technology. With this funding, we're poised to capitalize on our strengths and the global market opportunities opening up to us in literacy, language learning, and toys."
SoapBox Labs' proprietary speech recognition technology caters to the unique speech patterns of children. Its age-appropriate, privacy-driven voice technology powers third-party digital games, literacy, and English language learning offerings for children.
Last year, SoapBox Labs technology was chosen for the Reach Every Reader initiative, a partnership between the Harvard Graduate School of Education, the MIT Integrated Learning Initiative, Florida State University, and expert practitioners, students and families across the United States to develop effective solutions for readers.
"Astia has been an investor in SoapBox Labs since 2017. The company...is driving solutions that enrich children's digital experiences through voice technology, while enabling security that protects kids' data privacy rights. We're pleased to participate in this new funding round that positions the company for international growth, and we're excited to be part of the SoapBox Labs family and story," Sharon Vosmek, CEO of Astia, in a statement.
"Having supported SoapBox Labs from the start, Elkstone are very pleased to be part of this latest funding round. SoapBox Labs are truly at the leading edge globally of voice technology for kids, and with voice-enabled tech becoming so pivotal and huge multi-market growth predicted, it's an Irish company we'll be hearing a lot more about. A stellar deep tech team with a real edge and global ambitions, I've no doubt SoapBox Labs has the ability to really scale as evidenced by the number of top-tier collaborations they already have with leading global players in numerous verticals," added Alan Merriman, principal of Elkstone Capital, in a statement.
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