PlayShifu, a Bengaluru, India-based educational toy and games maker, said it has raised $17 million in the Series B round led by existing investor Inventus Capital India, joined by new investor Inflexor Ventures, as well as previous investors Chiratae Ventures and Bharat Innovation Fund.
The fresh funding will be utilised to launch more products, explore new markets, scale its team and improve marketing, according to LiveMint.
Founded in 2016, PlayShifu provides STEM teaching and learning tools for children 4 to 12 years of age. The company said it has a repeat purchase rate of over 43% for three products, Orboot, Plugo, and Tacto.
It cliamed its team has doubled to 115 from 60, and its user base has doubled to 600,000 from 250,000 in the past year.
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