Vertex Ventures leads tech startup myFirst’s US$8 million Series A funding round

[SINGAPORE] Children’s technology brand myFirst has raised more than US$8 million in its Series A funding round, led by early stage venture capital firm Vertex Ventures South-east Asia & India.

The Singapore-based startup, which facilitates child-friendly digital device use through connected services and child-safe applications, will use the funds to scale its digital ecosystem and fuel international expansion. 

Its KidsTech ecosystem includes devices such as myFirst Fone, a smartwatch that allows children to make calls and send messages, and comes with safety functions such as a built-in Global Positioning System and distress signal button.

The integrated network also comprises the myFirst Circle family social app, a closed, encrypted and advertisement-free platform where children can share posts only with approved family and friends in a parent-controlled digital environment.

With the funds raised, myFirst intends to establish retail and telecommunications distribution partnerships with companies such as Walmart and Best Buy. It currently operates in 60 countries and plans to expand further into markets across the US, Europe, the Middle East and North Asia.

G-Jay Yong, myFirst’s founder and chief executive officer, said: “This new funding will help us bring safe, kid-ready technology to even more families around the world, and help parents feel confident about their child’s first step into the digital world.”

Similarly, Vertex Ventures has noted “a structural global shift towards purpose-built technology for children”.

The firm’s senior executive director Jessica Koh also said the way families introduce children to technology has changed, driving demand for such products.

She added that the “the global KidsTech opportunity remains underpenetrated”, and myFirst is poised to “define the category at scale”.

Vertex Ventures has partnered high-growth startups across various sectors in South-east Asia and India. It has invested in superapp Grab and software company Patsnap, among others.