Skillmatics in Talks to Raise USD 75 Mn
Skillmatics in talks to raise up to USD 75 million at a USD 420 million valuation from Premji Invest and others.
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Skillmatics, a startup that develops educational games and toys for children, is in advanced talks to raise between INR 600-700 crore (USD 60-75 million) in a fresh funding round, according to people familiar with the matter. The round would value the company at approximately USD 420 million and involves participation from Premji Invest, ChrysCapital and A91 Partners, though terms are not yet finalized.
The round is largely structured as a secondary sale, providing an exit for existing investors, including Peak XV Partners, rather than being entirely fresh capital. Of the total deal size, only around USD 20-25 million is expected to go toward business expansion.
Skillmatics last raised USD 16 million in 2022 at a USD 128 million valuation, when it reported consolidated revenue of approximately INR 90-100 crore. Since then, the company has grown its revenue roughly eightfold, driven largely by strong sales in the United States, which accounts for about 85% of its revenue. The company sells through its own website, major e-commerce platforms, and a network of over 20,000 retail stores worldwide, including Walmart and Target.
Founded in 2016 by former BCG consultant Dhvanil Sheth, who serves as CEO, and Devanshi Kejriwal, who leads product and content, Skillmatics would see its largest fundraise since inception if the deal closes. The talks reflect a broader revival in funding activity across India’s consumer startup ecosystem, with investors placing greater emphasis on scale and profitability.
Skillmatics, a startup that develops educational games and toys for children, is in advanced talks to raise between INR 600-700 crore (USD 60-75 million) in a fresh funding round, according to people familiar with the matter. The round would value the company at approximately USD 420 million and involves participation from Premji Invest, ChrysCapital and A91 Partners, though terms are not yet finalized.
The round is largely structured as a secondary sale, providing an exit for existing investors, including Peak XV Partners, rather than being entirely fresh capital. Of the total deal size, only around USD 20-25 million is expected to go toward business expansion.
Skillmatics last raised USD 16 million in 2022 at a USD 128 million valuation, when it reported consolidated revenue of approximately INR 90-100 crore. Since then, the company has grown its revenue roughly eightfold, driven largely by strong sales in the United States, which accounts for about 85% of its revenue. The company sells through its own website, major e-commerce platforms, and a network of over 20,000 retail stores worldwide, including Walmart and Target.
Founded in 2016 by former BCG consultant Dhvanil Sheth, who serves as CEO, and Devanshi Kejriwal, who leads product and content, Skillmatics would see its largest fundraise since inception if the deal closes. The talks reflect a broader revival in funding activity across India’s consumer startup ecosystem, with investors placing greater emphasis on scale and profitability.
