Companies

Skillmatics raises $6 million in Series A funding

Our Bureau Bengaluru | Updated on June 22, 2021

The funds will be used by the brand to strengthen presence in US and expand product portfolio

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 the brand’s presence in the US across online and offline retail, to 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.

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Software-like approach

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, are designed to build core skills and reinforce key learning outcomes through systematic play. Skillmatics currently offers products in three key categories — learning resources, educational games and STEM toys.

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“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 US, enabling us to build a global brand from India”, said Dhvanil Sheth, founder and CEO at Skillmatics, in a statement.

Published on June 22, 2021

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