BUSINESS

Skillmatics raises $16 Million Collection B funding led by Sofina

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To utilise funds to enhance its global presence and amplify merchandise to fresh-age teams, among others

Skillmatics, a worldwide imprint for childhood’s academic games and resources, has raised $16 million in Collection B funding, led by Sofina.

The spherical witnessed participation from the existing investors, Sequoia Capital India and Jalaj Dani Household Office. 

The funds shall be utilised to enhance its presence within the US, amplify the logo’s product choices to fresh age teams and product categories, scale up its presence in fresh world markets and fabricate strategic acquisitions in adjacent categories.

With the Collection B spherical, the corporate has raised shut to $24 million, including a $6 million Collection A spherical led by Sequoia Capital India in April 2021 and a $1.8 million Seed spherical in April 2019 led by Sequoia India’s Surge program.

The imprint designs hiss-led games and play-centric finding out resources. Their merchandise kind out constructing core abilities akin to reading, logical reasoning, STEM and social-emotional abilities in childhood. The company has launched many   product strains, including Bet in 10, Write & Wipe Process Mats and Stumbled on It!.

“Of us currently wish to offer their childhood with vital play experiences that pressure social interaction and form formative abilities. This fundraise offers us the fuel to form fresh capabilities, grow our crew at some stage in our areas of work within the US and India, amplify our attain, and snatch us one step closer to constructing an iconic imprint that is loved by households spherical the globe,” said Dhvanil Sheth, Founder & CEO of Skillmatics.

“We earn constructed a like a flash and iterative product constructing engine that is 5X quicker than incumbents and has a highly knowledge-driven on the realm of product form. We are furious to leverage this route of to open fresh merchandise at some stage in a wider fluctuate of categories,” said Devanshi Kejriwal, Co-Founder & Inventive Director of Skillmatics.

“The Skillmatics crew exudes contagious energy balanced with a deeply thoughtful on the realm of making appetizing academic experiences for younger households. As a company that operates at the crossroads of person imprint constructing, education and sustainability, Skillmatics’ mission resonates with loads of of Sofina’s funding priorities and we peer ahead to partnering with them of their growth bound,” said Tanya Sen, Foremost, Sofina.

Skillmatics sells globally through online marketplaces, its web web page and offline retail outlets love Walmart, Target and Hamleys. The company is currently contemporary at some stage in 15 countries and has equipped over 5 million merchandise since its open. 

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Also can unbiased 10, 2022

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