Skillmarics, known for its skill development educational products, has recently concluded a Series A funding round led by Sequoia Capital India. The toymaker has raised $6 million. Jalaj Dani Family Office and existing angel investors also participated in the latest round.
How Skillmatics will Utilize Current Funding?
Skillmatics, a direct-to-consumer brand, is strengthening its operations globally by the unique skillful gaming products for children. In recent financing round, the startup has raised $6 million from Sequoia Capital India to make the US online and offline operations more productive.
Jalaj Dani Family and other existing investors also actively participated in the recent Series A round.
Other than US operations, Skillmatics wants to utilize the current funding on new hiring, data processing tools, buying advanced technology, and the marketing field.
Offering new products, and expanding its operations to newer age groups are other ambitious plans of Skillmatics to achieve by the current funding.
Talking about current funding utilizations further, Devanshi Kejriwal, Co-Founder & Creative Director, Skillmatics said:
“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.”
How Skillmatics Got Popular?
Skillmatics has brought a new way of teaching children at an early age. At a time when children surround themselves with a variety of toys, Skillmatics has converted those toys to learn different skills. It will help the children in skill development before they join the formal teaching-learning institutions.
Talking about Skillmatics initiatives and the innovative ideas further, Dhvanil Sheth, Founder & CEO at Skillmatics said:
“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.”
Globally, the toy and gaming sector is worth $100 billion. Skillmatics convince the new age parents about how skillful toys can develop the thinking of their children. The startup manufactures products with sustainable materials to keep them environmentally friendly. The company has also designed different toy categories based on STEM learning. The parents can choose the toy category based on their children’s interests.
Why Sequoia is investing in Skillmatics? Answering this question and talking about the startup’s global presence and the future, Harshjit Sethi, Principal, Sequoia India said:
“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.”