Total amount raised
$23.2 Millions
Latest funding date
4/1/2022
Location
Skillmatics has successfully raised significant funding through multiple rounds, including a Series B round. The company is backed by prominent investors such as Peak XV Partners and Sofina.
Continue reading to delve into the details of Skillmatics' fundraising journey and the strategic investors supporting its growth.
What Is Skillmatics?
Skillmatics, founded in 2016 by Devanshi Kejriwal and Dhvanil Sheth, is based in Mumbai, Maharashtra, India. The company specializes in creating educational products and learning games for children in pre-school and primary school.
With a focus on developing core cognitive skills and reinforcing key learning concepts, Skillmatics offers a variety of products including card games, craft kits, flash cards, board games, travel games, and outdoor games. Their innovative approach ensures that learning is both fun and effective.
Currently, Skillmatics employs between 101 and 250 people, all dedicated to the mission of providing holistic development through engaging and educational play.
How Much Funding Has Skillmatics Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: April 2019
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Establish the company, develop initial product offerings, and set up operations.
- Series A
- Amount Raised: ₹440M (approximately $6M)
- Date: June 2021
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support growth, develop new products, and expand market reach.
- Series B
- Amount Raised: ₹1.2B (approximately $15.8M)
- Date: April 2022
- Lead Investors: Sofina
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations, expand product range, and enhance global market presence.
Total Amount Raised: $23.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Sofina
- Details: Sofina is a Belgian investment company that focuses on long-term investments in growth companies. They have a global presence and invest across various sectors.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
- Peak XV Partners
- Details: Peak XV Partners, formerly known as Sequoia Capital India, is a venture capital firm that invests in early and growth-stage companies. They have a strong presence in the Indian market.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Google, Apple, Airbnb.
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm based in the United States. They are known for backing some of the most successful technology companies globally.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Google, Apple, Airbnb.
- Smiti Holdings
- Details: Smiti Holdings is an investment firm that participates in funding rounds for promising startups and growth companies. They are known for their strategic investments in emerging markets.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Skillmatics?
Skillmatics is poised to capitalize on the growing demand for educational products that blend learning with play. With a presence in over 15,000 stores across 15 countries and more than 3 million products sold, the company is well-positioned to expand its market reach and product offerings, particularly in the STEM fields.
Future fundraising opportunities seem promising, given the successful Series B round. Skillmatics may attract further investment to scale operations and enhance its global footprint. However, the company will need to navigate challenges such as competition from other EdTech firms and managing supply chain complexities to maintain product quality and safety.
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