Exclusive: Children’s entertainment portal Imaginry raises $450k led by IAN

Toko Innovations Studios Pvt Ltd, which owns and operates children’s entertainment portal Imaginry, has raised Rs 3 crore ($450,000) in seed funding led by Indian Angel Network (IAN), which invests in early-stage businesses.

Few angels from Rajasthan Angel Investor Network  and other independent investors like Suresh Kalpathi, founder of SSI and Kalpathi Investments; Akshay Garg, founder of Komli Media; Srikumar Misra, founder of MilkMantra; and Rohit Krishnan, UK Head of Mckinsey- Scale up; also participated in the round, Aditya Mukherjee, co-founder of Imaginry told DEALSTREETASIA.

Imaginry gives children access to hundreds of animated shows, games and curated learning videos. The startup aims to bring the best of children’s content to their home.

It will utilise the funding for product development, user growth and content partnerships.

“Imaginry is a path breaking technology and a great concept. They have a very capable team,” said Mahavir Pratap Sharma, chairman, Rajasthan Angel network.

The company was launched few months back in beta and has got 1.2 lakh views. “Users are staying on an average of 3x for games and 4.5x for video on the global benchmark on our website,” Mukherjee added.

“However, we are completely revamping our product to be mobile-centric and personalised which will be launched in a few months,” he further said.

Founded in February 2014 by Aditya Mukherjee (CEO), Arnav Mukherjee (content head) and Ajitsen Surendran (CTO) with an idea of making toys & games that are connected to stories, Imaginry is currently targeting the Indian market with an aim to expand across emerging markets globally including a strong focus in Asia.

Before co-founding this venture, Aditya was working with Bain & Company as a senior associate consultant. He has also co-founded Uoolabs Pvt Ltd. Brothers Aditya and Arnav Mukherjee have been deeply involved in stories and games since childhood.

Currently focusing on user growth for the first year, Imaginry aims to break even by end of 2017. It has a team of eight people and is looking to hire more.

Other similar startups in the space are Eddy, Worldoo, Yellow Giraffe, Flinto and CocoMoco Kids.

2015 was an interesting year for the online gaming industry and attracted investors in the space. One of the biggest funding in 2015 was Moonfrog Labs which received $15 million from Sequoia Capital and Tiger Global.

This year, IAN invested in several others startups also including Hyderabad-based healthcare start-up Transcell Biologics, backpacker hostels chain Roadhouse, Chennai-based startup SP Robotics Works, two-wheeler service and repair platform DrivoJoy, robotics education startup Kidobotikz among others.

Also Read:

We plan to invest $1.5m more this year: Mahavir Sharma, RAIN

India: Car pooling app Orahi secures $520K from Indian Angel Network

Exclusive: Jaipur-based Blue Box Media raises angel funding

Startups should pitch from the point of view of the investor, says IAN’s Saurabh Srivastava

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.