Singapore’s myFirst raises over $8 M funding from Vertex Ventures Southeast Asia & India
Vertex Ventures Southeast Asia & India is leading MyFirst’s Series A funding round, which has raised over $8 million. MyFirst is a Singapore-based kids’ tech company that is responsible for the myFirst Fone watchphone and the myFirst Circle family app.
In a statement on Tuesday, MyFirst said that with the support of this most recent funding round, the company will expand its KidsTech ecosystem, combining gadgets, linked services, and a safe social platform to facilitate a child’s initial digital experiences in the areas of self-expression, communication, and creativity.
Through retail and telco partnerships with companies like Walmart and Best Buy, the company will increase its presence in North Asia, the Middle East, the United States, and Europe while improving myFirst Circle, a closed, ad-free social network created especially for kids.
MyFirst is attempting to define what safe, age-appropriate technology should look like for the next generation at a time when the majority of children start their online lives on platforms designed for adults.
According to myFirst, which is utilized by over a million families in 60 countries, it is changing how kids interact with technology in a safe, meaningful, and joyful way.
“We started myFirst because our own kids wanted to use technology, but everything out there was built for adults. Every child deserves their first digital device to be built just for them, at a price point that makes it accessible,
“This new funding will help us bring safer, kid-ready tech to even more families around the world, and help parents feel confident about their child’s first step into the digital world,”
said G-Jay Yong, Founder and Chief Executive Officer, myFirst.
According to Jessica Koh, Senior Executive Director of Vertex Ventures SEA & India, there is a structural change in the way families introduce technology to their kids, which is driving demand for products that are specifically designed rather than modifications of adult platforms.
“The global KidsTech opportunity remains underpenetrated, and with its integrated ecosystem and global reach, myFirst is well positioned to define the category at scale,” she added.
With built-in GPS, safety zones, and an SOS button, the myFirst Fone watchphone offers kids the freedom to call, message, and share their day without requiring parents to give up a full-fledged smartphone.
The family social app MyFirst Circle creates a safe, ad-free environment for connection and enjoyment, free from strangers and inappropriate content, by allowing children to share moments only with approved family and friends in a fully encrypted, parental-controlled setting.
According to the statement, these serve as the cornerstone of an expanding ecosystem that combines entertaining gadgets with linked services specifically designed for kids. This ecosystem includes watchphones, cameras, headphones, drawing tablets, and more.
