Skillmatics, a Mumbai-headquartered full-stack direct-to-consumer (D2C) brand for educational products and games for children, has raised INR 121 Crore in its Series B funding round led by Sofina Ventures.
The round also saw participation from existing investors Sequoia Capital and Smiti Holdings.
According to the company's regulatory filings, Skillmatics has allotted 4,77,730 Series B preference shares at an issue price of Rs 2534.4 per share to raise Rs 121.07 crore or $15.8 million. Sofina has spearheaded the round with Rs 96.1 crore while Sequoia and Smiti have invested Rs 18.92 crore and Rs 6.05 crore respectively.
Launched in 2017 by Dhvanil Sheth, Skillmatics is a leading global education brand led by a team of educators, game, and product designers who are dedicated to creating innovative and holistic ways for children to learn through play. The platform focuses on 4 key learning domains encompassing the skills children need to realize school success and ignite a love of learning that lasts for life.
Skillmatics is deeply committed to the mission of developing educational products that bring joy to children and help them reach their full potential.
The startup sells directly to consumers globally while leveraging India's structural advantages in manufacturing, product design, technology and content creation. It adopts a data driven approach to product development and has built a vertically integrated supply chain that allows the platform to rapidly iterate, launch and scale new products 5X faster than traditional incumbents.
Skillmatics claims to have over 15,000 offline stores present across 15 countries and sold over 3 million products. It also offers educational toys and games across Science, Technology, Engineering and Maths streams.
With the Series B round, Skillmatics has raised close to $24 million including $6 million Series A round led by Sequoia Capital India. and $1.5 million seed round in April 2019.
Last year in June, Skillmatics had raised 6 million in Series A funding led by Sequoia Capital India, with participation from Jalaj Dani Family Office and existing angel investors.