Braga-based Magikbee raises €213,478 ($250,000) to continue to develop its edtech portfolio.
In the past two years Magikbee, a member of the Portuguese Startup Braga Innovation Hub and a Microsoft Ventures partner, has introduced a number of innovative technologies in the education segment, including Magik Play, a set of interactive building blocks that synch with the iPad, and a video streaming app for preschoolers called kiddZtube.
Read More: Magik Play hits the market at the world’s biggest online store
James Fitzgerald
The latest round values the Portuguese startup at €2.8 million ($3.3 million) and is funded by Portuguese angel investor Ideias Glaciares, who also led the first round; Bluemind Investments; and a private investor, James Fitzgerald, Global Vice-President of Silicon Valley-based cloud services company ServiceNow.
Fitzgerald, who will join Magikbee’s Board, successfully led ServiceNow’s expansion in Asia and has years of international experience across the globe that will be critical to Magikbee’s growth.
Hugo Ribeiro
“We are delighted to have investors that share our vision and our passion,” said Magikbee CEO Hugo Ribeiro in a statement.
“This round represents an important milestone in the company’s strategy, allowing us to expand the team, strengthen the product offering and test the market with some new products,” he added.
Magikbee has earned several international recognitions including as a finalist of the Silicon Valley World Cup Tech Challenge in the AR/VR category, finalist of the Prémio Nacional Industrias Criativas and a STEM award from Purdue University in the US.
Building on the same technology found in Magik Play, the company recently launched Magik Book – a paper catalogue that links to a tablet, with digital content synchronised to each page.
The funds raised will be used to roll out an SaaS platform for Magik Book, aimed at small businesses looking to use this technology as a marketing tool. At the same time, the company intends to further expand the content and customer features of its video app, kiddZtube.
Read More: Braga’s Magik Book bridges paper catalogues with digital devices
Using advanced magnetic field technology for martech purposes, Braga’s Magik Book is the first physical catalogue that connects to digital devices.
Launched on May 9, Magik Book is bound by a case which folds out into a stand, angling the device in the direction of the user and with the book itself laid flat.
A custom-built app shows content tailored to each page of the book, offering an augmented reality experience with the physical object in the hands of the customer.
The apps are tailor-made to each client and can include media such as panoramic photos, interactive videos, or digital product modelling but can facilitate sales, for example through a click-to-buy option or an email update registration.
Aiming to replace standard paper catalogues, Magik Book is designed as a marketing tool for luxury products for use in showrooms, stores, at events, or to send to customers.
Blurring the line between traditional marketing methods and more modern marketing technology, also known as martech, the company out of Braga is digging in to an industry that is worth an estimated $34 billion.
The product by the Portuguese startup counts on patented advanced magnetic field technology, which takes advantage of compasses and other sensors within digital devices. The tech requires no batteries or pairing, and is compatible across iOS and Android devices.