Skillmatics, a Mumbai-based full-stack direct-to-consumer (D2C) brand for children’s educational products and games, has raised INR 121 Crore in its Series B funding round led by Sofina Ventures.
The round also saw participation from existing investors Sequoia Capital and Smiti Holdings.
According to the company’s regulatory documents, Skillmatics has allocated 4,77,730 Series B Preferred Shares at an issue price of Rs 2534.4 per share to raise Rs 121.07 crore or $15.8 million. Sofina led the round with Rs 96.1 crore while Sequoia and Smiti have invested Rs 18.92 crore and Rs 6.05 crore respectively.
Launched in 2017 by Dhvanil Sheth, Skillmatics is a leading global education brand led by a team of educators, game and product designers dedicated to creating innovative and holistic ways for children to learn through play. The platform focuses on 4 key learning areas that encompass the skills children need to achieve school success and spark a lifelong love of learning.
Skillmatics is deeply committed to the mission of developing educational products that bring joy to children and help them reach their full potential.
The startup sells directly to consumers around the world, leveraging India’s structural advantages in manufacturing, product design, technology and content creation. It takes a data-driven approach to product development and has built a vertically integrated supply chain that enables the platform to iterate, launch and scale new products quickly, 5x faster than traditional incumbents.
Skillmatics claims to have over 15,000 offline stores in 15 countries and sell over 3 million products. It also offers educational toys and games in the Science, Technology, Engineering, and Maths streams.
With the Series B round, Skillmatics has raised nearly $24 million, including a $6 million Series A round led by Sequoia Capital India. and $1.5 million seed round in April 2019.
Last year in June, Skillmatics had raised 6 million in Series A financing led by Sequoia Capital India, with participation from Jalaj Dani Family Office and existing angel investors.
About the author
Author: Shalini Pathak
Shalini Pathak is a staff writer at EdTechReview (ETR) – India’s leading edtech media and community. She has more than four years of experience in the media, with different beats. Like all writers, she is first and foremost an avid reader with a passion for creating out-of-the-box content and the ability to write about any topic. As part of the ETR team, she will cover the latest in the edtech industry with a focus on edtech startup stories and their funding.
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