Playto Labs raises over ₹4 cr in seed round led by Inflection Point Ventures
MUMBAI: Education startup Playto Labs has raised over ₹4 crore in a eed round led by Inflection Point Ventures, one of India’s largest angel investment platforms. The funds raised will be used in building a strong team and expanding its customer base.
The round also saw participation from partners of upcoming fund Disruptors Capital, including Raj Snehil Juneja (chief investment officer); Krishna Kumar (founder, Simplilearn); Kunal Walia (founder, Simpliwork); Shashwat Kumar (managing partner, Khetal Advisors); and entrepreneurs including Tonmoy Shingal and Ketan Kapoor (founders, Mettl); Sachin Sharma (founder, Townscript); Rajesh Razdan (founder, Devtron Labs); Kuldeep Dhankar (SVP, CleverTap).
Vinay Bansal, founder & CEO, Inflection Point Ventures, said, “Our children are growing in the age of technology and get comfortable with using gadgets much before they learn to speak. Playto model is helping parents and their children to harness technology in a much more positive way where kids are learning something new and keeping themselves engaged in a constructive manner. Given the technology exposure in India, this is a booming market which got us interested in backing Playto."
Playto Labs has a combination of hardware toys and online one-on-one sessions with teachers who act as facilitators. Their pedagogy makes students feel like they are playing vs studying and helps them become creative and innovative problem solvers. The team is passionate about experiential learning and had earlier built Skyfi Labs, where they developed 100+ classroom and online experiential learning programs for UG-level students in technology. These programs had 400,000+ enrolments from 65 countries.
Within a year of launching, Playto Labs' products for kids have paying customers from 33 countries, and have seen strong month-on-month growth. Kids love these products, and the same is evident as more than half of its customers have come from word of mouth and organic channels.
With the number of students in India studying in grades 1-7 join online learning (soon to cross 40 million), Playto Labs expects a strong demand for highly engaging products that kids love and will make them future-ready. In addition, Playto Labs also sees an excellent response for its products in the overseas markets. Globally, educational toys market is expected to reach $34bn by 2025 as per a report by Orbis Research.