11 May 2021
We have advised Yoto, the audio platform for children, raising $17 million in a Series A funding to help facilitate its rapid growth across Europe and North America.
The investment was led by Acton Capital with participation from JamJar Investments, Global Founders Capital, Emerge Education, as well as MPL Ventures. The investment closed in January and followed the successful launch in early 2020 of the 2nd generation Yoto Player, subsequently awarded one of TIME magazine’s Inventions of the Year.
Commenting on the transaction, Corporate Partner Ian Moore, said: "We support Yoto in its journey to inspire children to take creative play into their own hands. It’s always a privilege to watch companies like Yoto grow and excel in their field, and we look forward to working with the Yoto team again in the future."
Ben Drury, CEO and co-founder of Yoto added: "I’m thrilled with how far we’ve come, and this new investment allows us to continue to fuel the curiosity of this generation of young learners through audio. Ian and the team at Taylor Wessing have supported us every step of the way through the fundraising with their invaluable practical and commercial insight, and we are delighted to have had them as part of our advisor team."
The team was led by Corporate Partner Ian Moore with support from Senior Associate Richard Faichney and Associate Nell Cooper, and Tax and Incentives Partners Ann Casey and Anna Humphrey.
We advised as UK legal counsel on the transaction in close collaboration with Wilson Sonsini Goodrich & Rosati (WSGR), whose team was led by Dan Glazer and Mike Labriola.