Learn STEM subjects while playing AR games. A new product of the Gen Alpha generation.
Editor’s note: This article is from the micro-channel public number “Edu Guide” (ID: EduZhiNan), Author: Edu Guide.
The application of new technologies in education is becoming more popular.
MobilizAR Technologies, headquartered in Bangalore, India, which operates an augmented reality (AR)-based toy manufacturing brand PlayShifu, recently announced the completion of a Series B financing led by Inventus Capital India, with a financing amount of US$17 million.
PlayShifu said that this financing is before the launch of eight products in 2021. The company has created interactive educational games with AR features for children.
In July 2019, PlayShifu raised $7 million in a Series A financing led by Chiratae Ventures.
According to VCCEdge data, including the latest round of financing, PlayShifu has raised $29 million so far.
This startup founded in 2016 by two fathers, Dinesh Advani and Vivek Goyal, aims to help transform children’s screen time into meaningful digital games-the interaction of tactile toys and digital devices-combination Gamified early learning skills.
PlayShifu encourages early STEM (science, technology, engineering and mathematics) learning for children through educational toys and games.
PlayShifu’s first flagship product, Shifu Orboot, is an AR-based globe. When combined with an app, it can provide more information about countries and regions, including maps, culture, monuments, inventions, food, and animals.
PlayShifu claims that the repeat purchase rate of its three series of products (Orboot, Plugo and Tacto) exceeds 43%. These gaming experiences are specially designed for children between 4 and 12 years old. Products can be purchased in more than 35 countries/regions through online marketplaces and physical stores.
Last year, the company’s revenue increased 150% year-on-year for the third consecutive year. It also doubled its 60 team in 2019, reaching 115 members by 2020, and continues to grow further. It claims that its user base has more than doubled from 250,000 in 2019 to 600,000 in 2020.
PlayShifu co-founder Dinesh Advani said: “As PlayShifu continues to introduce new products to further develop Generation Alpha (referring to the generation after 2010, they have grown up with mobile phones and ipads, and electronic screens have never been absent). Learn skills. We are honored to be able to cooperate with many well-known retailers around the world to expand our business scope.” “Following the establishment of a very successful partnership with Walmart’s Sam Club, we are very happy to work with Wal-Mart’s Sam Club in 2021 and beyond. Other American retailers cooperate to help children build basic STEAM skills through entertainment.”
“For children from four to nine years old, with an average of up to five hours of screen time per day, we have a responsibility to help children develop their early learning skills in this digital age. Our products provide a rich variety of The content is ten times higher than that of the top 25 apps in the world to attract children’s interest. We plan to increase the range of products from 12 to 30 by 2022 to cover more than 20 early learning skills.” Co-founder Goyal Mentioned.
Educational technology companies that primarily target children have also recently attracted the attention of investors.
For example, Kutuki, a learning platform for children aged 3 to 7, completed approximately US$2.2 million in a seed round led by Omidyar Network in India in February 2020.
BeyondSkool, a children’s online live training school, raised US$2 million in seed funding from early-stage investment fund Tomorrow Capital in January this year. Also in the same month, Kyt Technologies Pvt Ltd operated a platform focusing on children’s extracurricular learning, and raised US$5 million under the leadership of Alpha Wave Incubation.
Refer to this article:
https://www.vccircle.com/inventus-capital-leads-series-b-funding-in-toy-maker-playshifu
https://www.playshifu.com/
https://www.forbesindia.com/article/special/playshifu-maker-of-arbased-educational-toys-raises-$7-million-in-seriesa-funding/54513/1
https://www.techcircle.in/2021/04/06/inventus-capital-leads-17-mn-funding-round-in-playshifu