Augmented Reality Startup Play Shifu Raised Funding From IDG Ventures & Others
Augmented reality-based interactive educational games startup Play Shifu running under MobilizAR Technologies Pvt. Ltd, has raised funding in a pre-Series A round led by IDG Ventures and IDFC-Parampara Fund.
Play Shifu will use the freshly raised funds to extend its reach globally and to strengthen its technology and design team.
Augmented reality startup Play Shifu was founded in 2016 by Stanford and IIT Kharagpur alumni Vivek Goyal and Dinesh Advani in Bengaluru.
Play Shifu is an educational startup that makes augmented-reality based games for children between the ages of 2 to 10 years.
“We strongly believe in technologies that bridge the gap between the physical and digital worlds, specifically for early-learning. The tremendous global response for Shifu Orboot, the smart globe, has given us a major boost in the ed-tech space,” said Goyal in a statement.
Jatin Desai, general partner at IDFC-Parampara Fund, said Play Shifu was one of the very few Indian startups to have been able to commercialize augmented and virtual reality-based products successfully and sell to customers globally.
“The success of Play Shifu’s Orboot product on Kickstarter in such a short time with limited resources speaks highly of the team’s domain knowledge and market opportunity,” said IDG Ventures India Advisors director Karthik Prabhakar.
In March, virtual reality startup ShilpMIS Technologies had raised an undisclosed amount through IvyCamp Ventures.
In last month, VR & AR startup GridRaster has a raised $2 million in seed funding from a group of venture capital firms, which included Exfinity Ventures, Lumia Capital, Pipeline Capital, NexStar Partners, Unshackled Ventures and Explorer Group.
In September 2017, Cricketer Chris Gayle has picked up a minority stake in augmented reality (AR) start-up FlippAR.
The news was first reported in VCCircle.