Social media network for kids raises $17 million for web3 projects

Quick Take

  • US-based Zigazoo, a TikTok-like platform for children, announced it has raised $17 million, led by Liberty City Ventures with participation from the likes of Animoca Brands and Dapper Labs.
  • It will use the funds to expand its web3 offerings following the launch of NFTs on the platform in April.

Zigazoo, a social media network for children, said on Tuesday it had raised $17 million in a Series A fundraise led by Liberty City Ventures.

The round brings the total raised by the company to $21 million since it launched in 2020. Other funders in the Series A include Animoca Brands, The NBA, Dapper Labs, OneFootball, Causeway, Medici VC, Lightspeed Venture Partners, Flamingo Capital, Core Ventures, Spartan Group and Charli and Dixie D’Amelio.

Zigazoo allows children to create TikTok-like videos in response to challenges set by brands and to showcase talents to friends. It has partnered with companies including Nickelodeon, Peanuts, Netflix Kids and US-based Zoos, as well as celebrities such as Dolly Parton.

In early April, the company rolled out a non-fungible token (NFT) platform, with collections from children-focused brands such as Moonbug Entertainment and Invisible Universe. With the prices ranging from $5.99 to $49.99 depending on rarity, children can use the NFTs in their videos, as their profile pictures and can trade them with other children on the platform.

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