April 16, 2009
Children’s Virtual World Company, Tribal Nova Receives $3 Million in Venture Funding from VC Firms, iNovia Capital and ID Capital
Tribal Nova is a parent-child friendly virtual world game developer that is based in Montreal, Canada which develops educational games for children ages three to twelve. Tribal Nova is starting to lead the market in the children’s game and virtual world markets.
The $3 Million investment came with the company’s investors, iNovia Capital and ID Capital. Proceeds of this funding will go to expand the company’s markets throughout North America, Canada, and France and to promote the Tribal Nova’s new product, KidStudio. KidStudio is a virtual world game that allows children that are ages 7 to 12 to be able to make friends and acquire all kinds of games and videos that star their favorite cartoon and TV characters.
According to Chris Arsenault, managing partner at iNovia Partners, Tribal Nova is in a good position for success in a market with enormous potential for growth. During this day and age, children are becoming more tech savvy at younger ages and are discovering new virtual world media at record pace. Further more, unlike earlier generations, more children are spending more time on the internet that in front of the television. Media companies see this and are looking for different ways to attract their audience.
As far as Daniel Cyr, managing partner at ID Capital, is concerned, Tribal Nova is creating top of the line immersive environments for children to have fun, along with the safety and security of Tribal Nova’s environments give parents peace of mind, knowing that there is no one that could be lurking in those environments to cause children harm, as they have the potential of doing on other networks that are more obscure. Further more, Tribal Nova has made itself more appealing to investors by forming partnerships with major media networks, such as PBS and CBC.
Tribal Nova has already formed a partnership with PBS, which is a reputable media network in the United States which has children’s programs that are watched by children nationwide. Tribal Nova is teaming up with PBS’s show, “Kids Play” which reaches an audience of over 115 million people per month both on the air and on the internet.
The partnership that Tribal Nova has forged with the CBC is for the program that the CBC has, “CBC Kids Wonder World,” which will be launched in the near future.
Tribal Nova is also forming a partnership with Bayard Jeaunesse of France, which is a publisher that reaches over 36 million readers in France.
iNovia Capital is a vc firm that invests in companies that are in the IT, clean tech, and life sciences industries and mainly invests seed and early stage capital to entrepreneurs who strive to be successful. Other companies that iNovia Capital has invested in include AirBorne Mobile, CoolIt Systems, Moxxi Medical, Ryma Technological Solutions, and others.
One of the criteria for receiving an investment from ID Capital are entrepreneurs who have an innovative product. The target company for ID Capital to invest in must also have intellectual property that can meet certain needs in a market. ID Capital is a small vc firm, who’s investments are in between $500,000 to $1 million. Some of the companies that ID Capital has invested in include Rololight, EcoMedia, MetaFoam, Perceptions, and others.Find more information about Tribal Nova.