PlayShifu Raises $17 million Series B Funding
Bengaluru: Bengaluru-based educational toymaker PlayShifu today said it has raised $17 million (Rs 124.5 crore) as part of its Series B round led by existing investor Inventus Capital India.
Inflexor Ventures joined as an investor as part of this round, said PlayShifu in a statement. Other existing investors Chiratae Ventures and Bharat Innovation Fund also participated in this round, it added.
Vivek Goyal, co-founder, and chief executive officer of PlayShifu, said that the company plans to expand its product range from 12 to 30 products to cover over 20 early-learning skills by 2022.
PlayShifu, operated by MobilizAR Technologies Pvt Ltd, was founded in 2016 by Dinesh Advani and Vivek Goyal.
It encourages early STEM (science, technology, engineering, and mathematics) learning in children through educational toys and games.
The augmented reality-based firm says its focus is to bring innovation in its technologies, research phygital (a combination of physical and digital) interactions, and do new product development.
The brand is currently available in 35 countries as compared with 15 countries in 2019 on the back of new global bricks-and-mortar and e-commerce partnerships.
