VCs in €3m funding round for Skoove

Existing investors Egora Holding, IBB Beteiligungsgesellschaft (IBB) and High-Tech Gründerfonds (HTGF) also joined the round.

The fresh capital will be used for product development, team expansion and growth, especially in North America and Europe.

HTGF is currently investing from its High-Tech Gründerfonds III fund. The vehicle makes initial investments of €1-3m in Germany-based technology startups that are less than three years old. MGO Digital Ventures invests €250,000-500,000 for minority stakes. Ringier uses a mixture of cash and media for its investments and invests a total of CHF 7-12m annually.

Previous funding
Skoove was initially a participant in Microsoft Accelerator Berlin, benefiting from a venture round in 2014 and non-equity assistance in 2015.

HTGF led a seed round in 2015. IBB and Egora Holding led a €1.2m funding round in 2017, with the participation of HTGF.

Company
Founded in 2014, Skoove is an e-learning platform for piano lessons. Based in Berlin, the team currently employs 20 people. Though the app offers free lessons, a premium subscription is available for €9.99 per month.

People
Skoove – Florian Plenge (co-founder, CEO).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• High-Tech Gründerfonds
• Venture