Sequoia leads $6m funding in Skillmatics and 8 more India deal updates

Skillmatics, a full-stack direct-to-consumer brand for educational products and games for children, has raised $6 million in a Series A funding led by Sequoia Capital India.

The round also includes participation from Jalaj Dani Family Office and existing angel investors, Skillmatics said in a statement.

The funds raised will be used to strengthen its presence in the US across online and offline retail, hire across product design, data analytics, technology, and marketing roles, as well as expand product offerings to target newer age groups and enter new product categories.

Skillmatics was a part of Surge’s first cohort in 2019, and has raised a total of $8 million so far.

Launched in 2017, the startup currently offers products in three key categories – learning resources, educational games and STEM toys. The brand is present across 15 countries with a primary focus on North America and India. The startup sells products via its own website, online marketplaces, and across 15,000 offline stores worldwide.

Skillmatics has sold over 3,000,000 products since its launch.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from June 20-22, 2021.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals 
SkillmaticsMumbai6 millionSeries ASequoia Capital IndiaJalaj Dani Family OfficeConsumer ProductsE-commerce`
Byju'sBengaluru49 millionSeries FIIFL, Maitri EdTech-Education/TrainingEdTech
Vini CosmeticsAhemdabad625 millionPEKKR-Consumer ProductsBeauty & Hygiene
PortlHyderabad-SeedKalaari Capital-Healthcare ServicesFitness & Wellness
Upside AIMumbai1.2 millionSeedEndiya PartnersVijay Kedia, Ajay Nanavati, Gopichand KatragaddaFinancial ServicesFinTech
MSMExMumbai1 millionPre-Series ARazorpay, TNF Investments-Outsourcing-
PazCareBengaluru-Seed-BookMyShow’s founding team, Haresh Chawla, Mohit Garg, Deepak DiwakarInsuranceInsuretech
SuperplumNoida3.8 millionPre-Series A--AgribusinessAgTech
PaymatrixHyderabad-SecondaryMuthoot Fincorp-Financial ServicesFinTech

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.