Healthy Kid-Smartphone Company Raises $3.5 Million in Seed Funding
Pinwheel Smartphones, promoting wellness in children
Pinwheel, a healthy smartphone designed for kids, recently closed a seed financing round.
I think parents and caregivers are concerned about the effects that a smartphone will have on their kids and want to be very conscious about teaching their kids the right way to use this tool.”
AUSTIN, TX, UNITED STATES, January 20, 2022 /EINPresswire.com/ -- Pinwheel, a healthy smartphone designed for kids, recently closed a seed financing round.— Dane Witbeck
On the back of 8 times revenue growth in 2021, Pinwheel announced $3.5 million in total seed funding which they’ll use to continue building new features, fund growth initiatives, and ultimately set a new standard for technology designed to support the well-being of kids.
The growth capital comes from Drumbeat Ventures and Circadian Ventures, with participation by Central Texas Angel Network, as well as other angel investors.
Dane Witbeck founded the Austin-based company in 2019. The startup has grown in adoption very quickly with tailwinds from consistent research and news reports on the negative effects of social media and smartphone addiction on children.
Pinwheel reimagined the smartphone experience to support healthy child development, and the design is supported by therapists. By removing web browsers and social media, promoting focus and intention through the interface, and curating dozens of apps to promote wellness, Pinwheel helps children develop healthy, lifelong habits with technology.
Witbeck, an engineer, launched the product because there was, “A hole the size of a crater in this market, begging for a solution. I think parents and caregivers are concerned about the effects that a smartphone will have on their kids and want to be very conscious about teaching their kids the right way to use this tool.”
Adam Burgoon of Dreambeat Ventures joined the latest round of financing.
“The goal of Drumbeat Ventures is to support the next wave of big tech brands that are enabling healthier relationships with technology while also creating world-class organizational cultures that model capitalism at its best,” Burgoon said. “Pinwheel is doing exactly those things—they are building a world-class organization and platform that enables our kids to create a healthy, conscious relationship with technology. They are delivering on what we all know we need for our kids.”
Mike Dowdle of Circadian Ventures said, “We invested in Pinwheel because, as a parent, I know smartphones and kids have been a real struggle for families. It is no surprise that Pinwheel has grown 8 times year-over-year.”
With this seed funding, Pinwheel plans to further engage and grow a community of like-minded parents and caregivers, supporting their kids’ digital journeys.
About Drumbeat Ventures: Established in 2020, Drumbeat Ventures helps founders create cultures that bring out the best in people and drive outsized returns. Drumbeat makes $1 to 5 million lead investments in breakout brands.
About Circadian Ventures: Circadian Ventures invests in early-stage tech and tech-enabled businesses, partnering with exceptional entrepreneurs to build enduring businesses. Circadian Ventures has investments in various sectors across the United States.
About Pinwheel: Pinwheel envisions a world where technology supports the well-being and healthy development of children. The purpose-built system of smartphone plus remote management empowers parents to feel confident in giving their child a healthy relationship with technology. Pinwheel equips parents to introduce their children to technology with age-appropriate experiences and easy supervision.
Julie Taylor
Pinwheel
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