3 Reasons Why we invested in Bloomcoding
Meet our Portfolio Company Bloomcoding — an online coding school for K-12 children, using VR/AR technologies.
We invested 100K EUR in the angel round in March 2022. In 2023, we made a follow-on investment, contributing to a record $1.1M pre-seed round, alongside Credo Ventures, Inovo.vc, u.ventures, Accel Scout Fund and other angels, — the largest one in Moldova’s history and one of the biggest EdTech pre-seed rounds in Romania.
Here are three reasons why Mozaic invested in Bloomcoding.
Reason #1. A Visionary Team with Strong Execution
We believe that there is a great Founders-Market-Fit:
1. Emil Chichioi — CEO & Co-Founder – Ex-founder of 2 of the biggest K-12 NGOs in Moldova, self-taught coding at 14 y/o
2. Mihaela Kawinska — COO & Co-Founder – Ex-Google, building for her own daughter, operator with several experiences, from Project Manager to Business Development and Customer Success.
We back mission-driven founders who are obsessed with solving big problems through technology. Their deep personal connection fuels persistence, and their storytelling skills bring the vision to life. They know their market, customer pain points, and competitive edge.
Reason #2. Massive Market Opportunity
Bloomcoding enables physical interaction with any digital learning content through their haptic technology, allowing students to feel and touch their digital learning experience powered by AR & haptics. As education becomes increasingly digital, they’re restoring the fundamental human way of learning through touch and movement. The market opportunity is massive – $80B annually, with 44% of EdTech spend going to hardware and hands-on learning.
They’ve proven their haptic learning model in two markets:
1) First, in after-school online learning for diaspora communities, reaching $660K ARR in 2024 (3x YoY growth) from Romanian & Moldovan diaspora students. These students receive haptic kits at home and learn coding & design by building haptic Augmented Reality experiences with live teachers. Think of them as an AR game development school for children. The unique advantage comes from arbitraging home-country talent in Romania and Moldova. They’re pricing 1.5-3x lower than competitors where the diaspora lives, for instance the UK, while maintaining high margins due to talent arbitrage, demonstrated by obtaining free cash flow in from gross sales.
This proven model scales directly to the 8M Spanish-speaking children in the US and other major diaspora communities, representing a $100M+ ARR opportunity.
2) Second, they’re pioneering haptic learning in schools, validated through a government agreement, covering 115 schools from Moldova and 30,000 students starting in 2025, representing a $500k ARR opportunity in 2026, making it the biggest AR implementation in Europe The global EdTech reseller network (5000+ resellers) represents their next frontier, where partnering with just 250 resellers offers $125M ARR potential.
Reason #3. Scalable Business Model
The cost of serving more customers is minimal, due to the distribution channel: B2G through governments that will eventually incorporate the program in schools. There are active discussions with the Ministry of Education of Saudi Arabia, Royal Family of Sharjah, UAE and the Minister of Education of Latvia.
On top, having B2G programs executed, will lead to after school lessons which will create synergy between its new program and current core offering of remote small group classes (1:4) 1x per week as monthly subscription.
This allows Bloomcoding to leverage technology and reach larger audiences at low marginal costs.
To get more about the factors we consider when investing in startups, check this blog post.
