Vilnius-based startup Liledu, an innovative educational toy subscription service, has secured a €125,000 investment for the international expansion of its ‘play and swap’ model. This funding, led by the FIRSTPICK fund and a group of angel investors, is designed to propel the startup’s growth and enable the testing of its services in new markets.
The ‘play and swap’ model of Liledu counters the current trend in the kids’ toy market, which is marked by short-lived and wasteful consumption. In a sector predominantly driven by purchases, educational toys are usually expensive and often last only six months. Liledu offers a viable, sustainable alternative through its subscription service, where members receive new educational toys monthly for children from 5 months to 7 years old. This regular exchange ensures a constant provision of fresh and engaging educational content.
The investment was drawn to Liledu due to its sustainability, educational impact, and a successful business model already in place in Lithuania. Andra Bagdonaitė, a partner at FIRSTPICK, states, “In a world gravitating towards sustainable products, Liledu stands ready to redefine the traditional toy market. Our investment aims not just at enhancing business growth but also at instigating a substantial shift in the industry.”
Laurynas Pamparas, the founder and CEO of Liledu underscores the growing awareness among Lithuanian consumers, which has significantly influenced the model’s success. He stresses the importance of offering sustainable and cost-effective alternatives to the norm of frequent toy purchasing. The ‘play and swap’ approach addresses this issue head-on, presenting a practical solution to the widespread problem of toy wastage.
Pamparas acknowledges the presence of similar models in the global market but points out that they often lack the personalization and sustainability that Liledu offers. The company is now set to launch market tests in the United Kingdom under the brand name Liledu.
Vilnius-based Liledu, established in 2021 (under the brand name Žaislų klubas), emerged as an answer to a market saturated with disposable plastic toys. Drawing on Pamparas’ personal journey as a parent, the company offers durable, wooden Montessori toys through a ‘play and swap’ model, marking a notable departure from the industry’s usual practices.
Original article: https://vilniustechfusion.com/en/news/vilnius-based-zaislu-klubas-lands-e125k-to-disrupt-toy-industry-with-play-swap-model/