Indian Economy News

Skillmatics raises $16 mn in series B funding round led by Sofina

Skillmatics, a global brand for educational games and materials for children, has raised US$ 16 million in Series B funding, led by Sofina with participation from existing investors, Sequoia Capital India and Jalaj Dani Family Office.

The funds will be used to expand Skillmatics product offerings to new age groups and product categories, increase the brand's presence in new foreign markets, and undertake strategic acquisitions in adjacent areas. Skillmatics sells globally via online marketplaces, its own website and offline retailers like Walmart, Target and Hamleys.

With the Series B round, Skillmatics has raised close to US$ 24 million, including a US$ 6 million Series A round led by Sequoia Capital India in April 2021, and a US$ 1.8 million seed round in April 2019 led by Sequoia India’s Surge programme.

This funding will enable Skillmatics to develop new skills, expand their team across offices in the US and India and reach one step closer to creating an iconic brand that is loved by families all around the world.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.