Educational gaming startup Skillmatics raises USD 16 mn from Sofina, Sequoia, others

Mumbai: Skillmatics, a startup that is into children's educational games and resources, has raised USD 16 million (about Rs 123 crore) in series-B funding, led by Sofina with participation from existing investors Sequoia Capital India and the Jalaj Dani family office.

With the latest round, Skillmatics has raised close to USD 24 million, including a USD 6 million in series-A round led by Sequoia Capital India in April 2021 and USD 1.8 million in the seed round in April 2019 led by Sequoia India's Surge programme.

The fund will be used to strengthen Skillmatics' presence in the US, its focus market, and expand its product offerings for new-age groups, apart from scaling up its presence in new international markets, the startup, co-founded by Dhvanil Sheth and Devanshi Kejriwal, said in a statement on Tuesday.

Skillmatics operates in the USD 100-billion global toys and games market, wherein it designs content-led games and play-centric learning resources which help build core skills such as reading, logical reasoning, STEM and social-emotional skills in children.

"This funding 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 a brand that is loved by families around the world," Sheth, the co-founder and chief executive, said.

"We are excited to leverage this process to launch new products across a wider range of categories," said Kejriwal, the co-founder and creative director.

Skillmatics sells globally via online marketplaces, its own website and offline retailers like Walmart, Target and Hamleys. It is present across 15 countries and has sold over 5 million products since its launch.