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

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Business News

Richard Branson Signs Open Letter Calling to 'Make AI a Force for Good'

The letter was published by The Elders and the Future of Life Institute on Thursday and signed by actress Cate Blanchett and Jaan Tallinn (co-founder of Skype).

Leadership

Mastering the Skill of Convincing Stakeholders to Approve and Execute Ideas

There's a big difference between approval-seeking and being your own biggest advocate.

Starting a Business

For Years, This Black Founder Learned an Uncommon But Essential Craft on the Side. Now His Creations Are Beloved By Celebrity Chefs — and Can Sell for More Than $1,000.

A chance encounter with a legendary knifemaker would lead Quintin Middleton, owner of Middleton Made Knives, to follow his long-time passion into business.

Growing a Business

3 Business Basics to Remember in 2024

Here are three fundamental tips that will help every SMB this year.

Innovation

Why Most Founders and Investors Are Wrong About Disruption

Everything is always in a state of business change... are you ready to adapt?

Business News

TikTok's CEO Is an Honorary Chair at the 2024 Met Gala

Conde Nast's Chief Content Offer, Anna Wintour, made the announcement Thursday.