Skillmatics has raised $16 million in Series B funding. The round was led by Sofina, Sequoia Capital India, and Jalaj Dani Family Office.
The fresh capital funding will be utilized in the following ways:
- To strengthen the feet of Skillmatics in the US,
- Expand the brand's product offerings to new age groups and product categories,
- Mark its presence in new international markets and
- Make strategies.
The company is operating in a $100 billion global toys and games market. It is Mumbai-based Skillmatics designs content-led games and play-centric learning resources. Their products develop core skills like reading, logical reasoning, STEM, and social-emotional skills in children through the joy of play. The company has launched a few new products including Guess in 10, Write & Wipe Activity Mats and Found It!
Skillmatics was founded in the year 2017. Skillmatics sells its products globally via online marketplaces, its official website, and offline retailers like Walmart, Target, and Hamleys. Currently, the company is dealing across 15 countries and has sold over 5 million products.
EXECUTIVE OPINION:
“This fundraiser gives us the fuel to build new capabilities, grow our team across our offices in the US and India, expand our reach, and take us one step closer to building an iconic brand that is loved by families around the world,” said Dhvanil Sheth, Founder, and CEO of Skillmatics.
“As a company that operates at the crossroads of consumer brand building, education, and sustainability, Skillmatics’ mission resonates with several of Sofina’s investment priorities and we look forward to partnering with them in their growth journey,” added Tanya Sen, Principal, Sofina.
“We have built a rapid and iterative product development engine that is 5X faster than incumbents and has a highly data-driven approach to product design. We are excited to leverage this process to launch new products across a wider range of categories,” said Devanshi Kejriwal, Co-founder and Creative Director of Skillmatics.
