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Bengaluru based education startup, Playto Labs has raised Rs 4 crore in series seed round funding led by Inflection Point Ventures.
“The funds raised will be used for hiring, and customer acquisition,” Playto said.
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) including others.
Speaking on the investment in Playto Labs, Vinay Bansal, Founder & CEO, Inflection Point Ventures said, “Our children are growing in the age of technology and get comfortable with using gadgets much before they learn to speak. The 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 constructively. Given the technology exposure in India, this is a booming market which got us interested in backing Playto.”
“The penetration of technology in the country has helped kids learn sooner than their age. Playto Labs is helping kids learn robotics with the right blend of toys, personal facilitators, and gamification. Every assignment helps them connect to a real-life case study and that’s exciting. The concept is to make kids ready for the future, especially in the areas of product development and engineering. Engaging with these assignments, the startup is helping kids develop practical skills, which have today become extremely important along with their schooling. This unique approach increased our confidence to back Playto Labs,” Jignesh Kenia, Lead Investor, Inflection Point Ventures added.
Commenting on the fundraise, Pavan Ponnaganti, Founder & CEO, Playto Labs, said, “Toys are a great way of learning for kids. My daughter (3 yo) has learned many things just by playing with toys, although she hasn’t gone to pre-school due to Covid. But toys are unable to keep up with the learning needs of children as they grow up after 7 years of age. As a result, kids only depend on their school to learn.”
“Through Playto Labs, we are building products to address this and 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,” Pavan further added.