Faba, a start-up engaged in innovating educational entertainment for young children, announces that it has closed a €4.5 million investment round, led by CDP Venture Capital with the participation of Oltre Impact and Ad4Ventures, corporate venture capital of the Mediaset Group.
The start-up also reports that it closed 2024 with excellent results, reaching a turnover of EUR 10 million and confirming its position as one of the most popular brands in the early childhood sector (0-6 years) according to the Report Italia Retail 2024 for Assogiocattoli members.
Thanks to the capital raised, which totals EUR 8.2 million from 2022, Faba will consolidate its position on the Italian market, aiming to become a key player in Spain as well.
The operation was coordinated by Growth Capital, which saw promising growth in the startup’s numbers: from Faba’s birth in 2019 to 2024, more than 1.4 million Sound Characters, the heart of the Faba ecosystem, have been sold, allowing children to explore rich and varied educational entertainment. Today more than 320,000 families in Italy, France and Spain have chosen Faba as a growing companion for their boys and girls, 245,000 of them in Italy alone. The new Faba+ device, launched in September, has sold more than 30 thousand units, exceeding the company’s forecasts.
Il Raccontastorie, i Personaggi Sonori and Faba+ occupy the top positions in Amazon’s ranking of toys for the 0-6 age group. The brand is also seventh in the ranking of the best e-commerce sites in the ‘Children and Toys’ sector in Italy, according to the report compiled by Casaleggio & Associati, ranking just behind internationally recognised brands.
The new round marks a milestone in Faba’s growth, which aims to reach EUR 15 million in sales by 2025. Thanks to the contribution of the round, firstly, the company will expand its team with 20 new hires planned by 2027, strengthening the product, marketing and sales divisions.
At the same time, geographic expansion will be accelerated with the aim of strengthening presence in the Spanish market, where Faba aims to become the reference brand for edutainment in the 0-6 year age bracket, and further consolidating its positioning in Italy. Lastly, product innovation and the strengthening of positioning on the main sales channels, both physical and digital, will continue, to guarantee families an increasingly engaging and accessible educational experience.
“This investment marks a crucial moment for Faba,” says Matteo Fabbrini, CEO, co-founder Faba (pictured with the team) in a note. “It allows us to accelerate our growth and bring the educational entertainment we promote into more and more homes, in Italy and abroad. With a turnover of EUR 10 million and the preference of over 300,000 families who have chosen Faba, we have confirmation that our vision is becoming a reality’.
“It has been truly rewarding to support Faba on its growth path since 2022, standing by its side as it raised a total of €8 million, allowing it to expand its reach in Italy and establish a solid presence in Spain,” comments Marco Meoni, vice president of Growth Capital. “Today, Faba stands out as a leading company in the edtech sector, a testament to the exceptional nature of its products and vision.
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