Direct-to-consumer (D2C) brand Skillmatics, which offers educational products and games for children. It has raised $6 million as a part of its Series A funding round led by Sequoia Capital India. Skillmatics is a new age brand that develops innovative educational products and games designed to help children build core skills, ranging from math and language to science and logic, through systematic play.
The team believes in revolutionizing the way children learn by creating unique, highly engaging games. They aim to develop products that make the process of learning and experience that children look forward to. The team also says that they want to bring back the time when children had the freedom to learn by doing, by exploring, by using their imagination, and by fuelling their curiosity. They are deeply committed to our vision of developing products that bring joy to children while helping them realize their full potential – one Skillmatics product at a time.
The Jalaj Dani Family Office and existing angel investors also participated as a part of this round. According to the company, it will use the proceeds from the fundraiser to strengthen its presence in the US across online and offline retail. The company is also expected to double down on its team and hire across product design, data analytics, technology, and marketing roles. The startup will also look to expand its product offerings while targeting newer age groups and entering new product categories.
Launched in 2017, Skillmatics develops innovative educational products and games that build core skills in children through systematic play. “We have adopted a software-like approach to traditional product development and built a suite of proprietary analytical tools that allows us to better understand evolving consumer preferences. This approach has enabled us to create innovative IP-led products that have rapidly gained traction and earned customer love in large markets like the USA, enabling us to build a global brand from India”, said Dhvanil Sheth, co-founder and chief executive officer (CEO) at Skillmatics.
The fundraising gives us the fuel to build new capabilities, expand our reach, and take us one step closer to building an iconic brand that is loved by families around the world,” added Devanshi Kejriwal, Co-founder and Creative Director, Skillmatics.
Skillmatics currently offers products in three key categories — learning resources, educational games, and STEM toys, and sells its products across a number of large offline retailers including Walmart and Target. The company has a presence across 15 countries with a primary focus on North America and India. It also sells its products via its own website, online marketplaces, and across 15,000 offline stores worldwide.
“Sequoia Capital India’s Surge first partnered with Skillmatics in early 2019 and it’s been exciting to see the company’s progress over the last two years. A rapid and iterative product development engine, a clear shift in preferences of parents for educational cum entertainment toys, and tremendous user love indicated by high ratings across the largest retailers in the US are all things that excite us about the company,” said Harshjit Sethi, principal, Sequoia India.
Skillmatics has sold over 3 million products and has raised a total of $8 million, since its inception. Operating in a $100 billion global toy and game market, Skillmatics said it caters to new-age parents who want to provide their children meaningful play experiences that build formative skills. The company’s differentiated products are made using sustainable materials, are designed to build core skills, and reinforce key learning outcomes through systematic play. Skillmatics currently offers products in three key categories – learning resources, educational games, and STEM toys.
Skillmatics, since the pandemic, claims to have grown 5X year-on-year owing to the dramatically accelerated consumer shift to online retailers globally. To date, it has sold over 3,000,000 products globally.