PlayShifu, the early learning toy company teaching the complete spectrum of foundational skills through physical and digital play, has announced that it has raised $17 million through a series B as the company plans eight product launches in 2021.
Inventus Capital India led the round with Inflexor Ventures joining as a new investor. Chiratae Ventures and Bharat Innovation Fund also participated again.
“We are proud of our team for their incredible achievements during the pandemic and while working remote for an entire year, resulting in a successful Series B to help take the brand to new heights in 2021 and beyond,” said Co-founder and CEO Vivek Goyal. “With screen time for
children ages four to nine as high as five hours on an average per day, we have a responsibility to help kids develop their early learning skills in the digital age. Our products offer rich, variable content that engages children 10 times better than the top 25 apps in the U.S., and we look forward to launching a number of new products over the next 18 months.”
The company plans to expand its product portfolio from 12 products to 30 products to cover all 20 early learning skills by 2022. In addition, PlayShifu has also grown its online and retail presence. Due to a number of new global brick-and-mortar and ecommerce partnerships, the brand is now available in 35 countries, an expansion from just 15 countries in 2019.
“As PlayShifu continues to introduce new products to further the development of early learning skills for Generation Alpha, we’re proud to partner with a number of reputable retailers around the world to diversify our reach,” said PlayShifu Co-founder Dinesh Advani. “Following our extremely successful partnership launch with Walmart’s Sam’s Club, we’re excited to team up with additional U.S. retailers in 2021 and beyond to help kids build foundational, STEAM skills through fun.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.