Kid-oriented virtual worlds continues to be a hot space… Dizzywood, a new virtual worlds startup for kids, has raised $1 million from the European Founders Fund, according to peHUB, citing a regulatory filing. The SF-based company has previously announced funding from Charles River Ventures and Shelby Bonnie. The company was founded by Scott Arpajian, longtime head of CNET’s (NSDQ: CNET) Download.com, Sean Uberoi Kelly (ex-Wallop) and Ken Marden, previously at Hasbro.

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