Google Inc (NASDAQ:GOOGL) along with Allen & Co, The Chernin Group, Greycroft, and angel investor Cris Conde has pumped in around $9 million into London, U.K. based startup Lost My Name. The startup is engaged in the publication of personalized books for kids. The company will use the funding to expand personalized book’s publication for the sale across the world including the U.S. and for furthering R&D.
Lost My Name uses computer algorithms to create books for the children using the letters of their names. Each book is developed on the same premise. The main character loses the name of his or her and goes on searching for the retrieval. For example, I met a troll, a robot, a hippo and a unicorn in my journey to retrieve the lost name. I will collect a letter from each of the objects to frame my lost name.
Lost My Name has so far traded 600,000 books in a span of two years. The general partner, Avid Larizadeh Duggan at Google Ventures said Lost My Name is personalizing the children books to bolster entertainment through bringing delightful and unexpected classic products to the life. It embraces the technology to make personalized books for enhancing entertainment for children as well as for creating the personalized stories.
The personalized picture books are developed around the name of a child. After creating the books online, the company will send them to the publishers worldwide. The company is leveraging the technology for the creation and printing of books in a cost effective manner.
Asi Sharabi, the co-founder and Chief Executive Officer at Lost My Name said the e-commerce platform allows creating the personalized story books for the kids and sell on the fly. One can preview the book, make changes to the story based on the kid’s name, and create the book. It is relatively simple. The company is using the third party APIs to customize the content.
It is the second investment for Google Inc (NASDAQ:GOOGL) Ventures in Lost My Name after the investment in Yieldify, another London-based startup.