#FundingAlert: Sequoia-backed Skillmatics raises $6 mn in Series A round

FPJ Web DeskUpdated: Tuesday, June 22, 2021, 09:48 AM IST
article-image
Founder Dhvanil Sheth and co founder Devanshi Kejriwal with their team | Skillmatics

Skillmatics, a full-stack direct-to-consumer brand for educational products and games for children has raised $6 million in Series A funding led by Sequoia Capital India. The round also includes participation from Jalaj Dani Family Office and existing angel investors.

The funds raised will be used to strengthen its presence in the US across online and offline retail, hire across product design, data analytics, technology, and marketing roles, as well as expand product offerings to target newer age groups and enter new product categories.

Operating in a $100 billion global toy and game market, Skillmatics caters to New Age parents who want to provide their children meaningful play experiences that build formative skills. Skillmatics’ differentiated products are made using sustainable materials, designed to build core skills and reinforce key learning outcomes through systematic play. It currently offers products in three key categories - learning resources, educational games and STEM toys.

“We have adopted a software-like approach to traditional product development and built a suite of proprietary analytical tools that allows us to better understand evolving consumer preferences. This approach has enabled us to create innovative IP-led products that have rapidly gained traction and earned customer love in large markets like the USA, enabling us to build a global brand from India”, said Dhvanil Sheth, Founder & CEO at Skillmatics.

“The fundraise gives us the fuel to build new capabilities, expand our reach and take us one step closer to building an iconic brand that is loved by families around the world”, Devanshi Kejriwal, Co-Founder & Creative Director, Skillmatics.

“Skillmatics is leading a new wave of Indian consumer companies which are building for the world from India - a trend we believe will only accelerate over the next few years." Harshjit Sethi, Principal, Sequoia India

Part of Surge's (a rapid scale-up program for start-ups in India and Southeast Asia) first cohort in 2019, Skillmatics has raised a total of $8 million to date.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Union Budget 2023: A teaspoonful of 'amrit' for all

Union Budget 2023: A teaspoonful of 'amrit' for all

Union Budget 2023 fails to meet expectations of salaried class, says AIBEA General secretary

Union Budget 2023 fails to meet expectations of salaried class, says AIBEA General secretary

Union Budget 2023 from a consumer's point of view

Union Budget 2023 from a consumer's point of view

Union Budget 2023 falls flat on transport sector's expectations: All India Motor Transport Congress'...

Union Budget 2023 falls flat on transport sector's expectations: All India Motor Transport Congress'...

Union Budget 2023: Missing 'one market-one tax', GST rationalisation, says GROMA secretary

Union Budget 2023: Missing 'one market-one tax', GST rationalisation, says GROMA secretary