[Funding alert] Global brand for educational games Skillmatics raises $16M in Series B led by Sofina
, a global brand for children’s educational games and resources, has raised $16 million in Series B funding, led by Sofina with participation from existing investors, Sequoia Capital India and Jalaj Dani Family Office.
As per the official statement, the funds raised will be used to strengthen Skillmatics' presence in the US, expand the brand's product offerings to new age groups and product categories, scale up its presence in new international markets and make strategic acquisitions in adjacent categories.
“This fundraise 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.
Operating in a $100 billion global toys and games market, Mumbai-based Skillmatics designs content-led games and play centric learning resources. Their engaging products build core skills such as reading, logical reasoning, STEM and social-emotional skills in children through the joy of play. The company has launched a number of product lines including Guess in 10, Write & Wipe Activity Mats and Found It!
“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.
Launched in 2017, Skillmatics sells globally via online marketplaces, its own website and offline retailers like Walmart, Target, and Hamleys. The company is currently present across 15 countries and has sold over five million products since its launch.
With the Series B round, Skillmatics has raised close to $24 million, including a $6 million Series A round led by Sequoia Capital India in April 2021 and a $1.8 million Seed round in April 2019 led by Sequoia India’s Surge program.
“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.