Direct-to-consumer (D2C) brand Skillmatics, which offers educational products and games for children, has raised $6 million as a part of its Series A funding round led by Sequoia Capital India.
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 fundraise 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, founder and chief executive officer (CEO) at 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 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 inception.
