[Funding alert] Global brand for educational games Skillmatics raises $16M in Series B led by Sofina2 min read
, a global model for children’s instructional online games and assets, has lifted $16 million in Series B funding, led by Sofina with participation from existing investors, Sequoia Cash India and Jalaj Dani Family Workplace.
As per the official statement, the cash lifted will be utilised to reinforce Skillmatics’ existence in the US, broaden the brand’s solution offerings to new age groups and products categories, scale up its existence in new global markets and make strategic acquisitions in adjacent classes.
“This fundraise presents us the gas to construct new abilities, increase our crew throughout our places of work in the US and India, develop our reach, and choose us a person step closer to constructing an iconic model that is cherished by people about the entire world,” explained Dhvanil Sheth, Founder and CEO of Skillmatics.
Working in a $100 billion world toys and games sector, Mumbai-based Skillmatics models content material-led game titles and engage in centric understanding means. Their partaking products develop core expertise this kind of as looking at, rational reasoning, STEM and social-emotional skills in young children by means of the joy of engage in. The business has introduced a number of item traces such as Guess in 10, Write & Wipe Activity Mats and Discovered It!
“As a enterprise that operates at the crossroads of client manufacturer developing, schooling and sustainability, Skillmatics’ mission resonates with numerous of Sofina’s investment decision priorities and we glimpse forward to partnering with them in their advancement journey,” additional Tanya Sen, Principal, Sofina.
Introduced in 2017, Skillmatics sells globally by way of on the internet marketplaces, its possess website and offline suppliers like Walmart, Target, and Hamleys. The business is at this time existing across 15 countries and has marketed more than 5 million products since its start.
With the Sequence B spherical, Skillmatics has raised close to $24 million, which includes a $6 million Collection A round led by Sequoia Funds India in April 2021 and a $1.8 million Seed round in April 2019 led by Sequoia India’s Surge application.
“We have developed a swift and iterative merchandise progress engine that is 5X quicker than incumbents and has a extremely facts-pushed strategy to product style and design. We are fired up to leverage this system to start new solutions throughout a wider assortment of classes,” stated Devanshi Kejriwal, Co-founder and Resourceful Director of Skillmatics.