The raised capital will be utilised in building a strong team and expanding the customer base of the company.
October 16, 2021
Educational toys startup Playto Labs has raised over INR 4 crore in a seed funding round led by Inflection Point Ventures. The funds raised will be used in building a strong team and expanding its customer base.
The round also saw individual participation from partners of the upcoming fund Disruptors Capital, including Raj Snehil Juneja (Chief Investment Officer), Krishna Kumar (Founder, Simplilearn), Kunal Walia (Founder, Simpliwork) and 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) and Kuldeep Dhankar (SVP, CleverTap) among others.
Vinay Bansal, founder & CEO, Inflection Point Ventures, said, “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 1-1 sessions with teachers who act as facilitators. The pedagogy has been so formulated that it makes kids feel as if they are playing while studying. The products are designed by alumni of IIT, Harvard, Amazon, Intel, and Microsoft.
Pavan Ponnaganti, Founder & CEO, Playto Labs, said, “Toys are a great way of learning for kids. Through Playto Labs, we are building products that make play a more relevant learning method for kids above 7 years. The goal is to make kids truly enjoy science and tech, and we believe that is how the real innovators of the future will emerge. We currently offer Robotics products for kids, and we are delighted with the feedback we have been receiving from students and parents across the globe. We are launching more products soon.”
Only within a year of its start, Playto Labs’ products for kids already have paying subscribers from 33 countries. The company is also attaining strong month-on-month growth.
As per a research report by Orbis Research, the global educational toys market is expected to reach USD 34 billion by the year 2025.