Skillmatics Raises $16 Million In Series B Funding The fund raised will be used to strengthen the brand's presence in US and expand its product offerings
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Skillmatics, a brand for children's educational games and resources, has raised $16 million in Series B funding round led by Sofina, a Belgium-based investment company. The round also witnessed participation from Sequoia Capital India and Jalaj Dani Family Office. The fund raised will be used to strengthen the brand's presence in US and expand its product offerings to new age groups and product categories.
"Parents today want to provide their children with meaningful play experiences that drive social interaction and build formative skills. The fundraise gives us the fuel to build new capabilities, expand our reach and take us one step closer to build an iconic brand that is loved by all around the world," said Dhvanil Sheth, founder and CEO, Skillmatics.
Skillmatics has launched a number of product lines including Guess in 10, Write and Wipe Activity Mats and Found It. The brand is currently present across 15 countries with a primary focus on North America. It has sold over 5 lakh products to date, as per a statement given by the company.
"As a company that operates at the crossroads of consumer brand building, education and sustainability, Skillmatic's mission resonates with several of Sofina's investment priorities and we look forward to partnering with them in their growth," said Tanya Sen, principal, Sofina.
Founded in 2017, Skillmatics is a global brand that develops innovative educational games and learning resources that build core skills in children through games. The brand's engaging products build core skills such as reading, logical reasoning and social-emotional skills in children through the joy of playing.
According to reports, the global toys and games market reached a value of $105.2 billion in 2021 and is expected to reach $136.9 billion by 2027.