D2C Brand Skillmatics raises $6 million in Series A funding led by Sequoia Capital India & Other
Mumbai-based full-stack direct-to-consumer brand for children's educational products and games, Skillmatics has raised $6 million in Series A funding led by Sequoia Capital India.
The round also saw the participation of the Jalaj Dani Family Office and other existing angel investors.
The startup stated in a statement that the funds raised will be used to strengthen its presence in the United States across online and offline retail, hire in product design, data analytics, technology, and marketing roles, and expand product offerings to target newer age groups and enter new product categories.
“We have adopted a software-like approach to traditional product development and to build 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 CEO at Skillmatics.
Skillmatics said it caters to new-age parents who want to provide their children with meaningful play experiences that build formative skills in a $100 billion global toy and game market. The company's differentiated products are made from sustainable materials and are designed to help children develop core skills and reinforce key learning outcomes through systematic play. The startup currently offers products in three key categories - learning resources, educational games, and STEM toys.
Skillmatics, which debuted in 2017, claims to be the first Indian-origin brand to sell globally in a variety of large offline retailers such as Walmart and Target. Skillmatics now has a presence in 15 countries, with a primary focus on North America and India. Products are sold through its own website, online marketplaces, and 15,000 physical stores worldwide.
“Our vertically integrated supply chain enables us to rapidly iterate, launch, and scale new products 5X faster than traditional incumbent brands. The fundraise 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, which was a part of Surge's (a rapid scale-up programme for startups in India and Southeast Asia) first cohort in 2019, has raised a total of $8 million to date.
“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. Skillmatics is leading a new wave of Indian consumer companies, which are building for the world from India - a trend we believe will only accelerate over the next few years,” said Harshjit Sethi, Principal, Sequoia India.
The round also saw the participation of the Jalaj Dani Family Office and other existing angel investors.
The startup stated in a statement that the funds raised will be used to strengthen its presence in the United States across online and offline retail, hire in product design, data analytics, technology, and marketing roles, and expand product offerings to target newer age groups and enter new product categories.
“We have adopted a software-like approach to traditional product development and to build 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 CEO at Skillmatics.
Skillmatics said it caters to new-age parents who want to provide their children with meaningful play experiences that build formative skills in a $100 billion global toy and game market. The company's differentiated products are made from sustainable materials and are designed to help children develop core skills and reinforce key learning outcomes through systematic play. The startup currently offers products in three key categories - learning resources, educational games, and STEM toys.
Skillmatics, which debuted in 2017, claims to be the first Indian-origin brand to sell globally in a variety of large offline retailers such as Walmart and Target. Skillmatics now has a presence in 15 countries, with a primary focus on North America and India. Products are sold through its own website, online marketplaces, and 15,000 physical stores worldwide.
“Our vertically integrated supply chain enables us to rapidly iterate, launch, and scale new products 5X faster than traditional incumbent brands. The fundraise 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, which was a part of Surge's (a rapid scale-up programme for startups in India and Southeast Asia) first cohort in 2019, has raised a total of $8 million to date.
“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. Skillmatics is leading a new wave of Indian consumer companies, which are building for the world from India - a trend we believe will only accelerate over the next few years,” said Harshjit Sethi, Principal, Sequoia India.
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