Education Startup For Kids Flintobox Secures US$7Mn From Lightbox, Others
Child activity subscription box, Flintobox, has raised $7 million in Series A funding from Lightbox and existing investors which includes Globevestor, Ashwin Chadha, Asian E-Commerce Alliance and Mauj Mobile among others.
The raised capital will be used to capture the $4.5 billion pre-school market in India and aims towards a global expansion, starting with South-East and Middle-East Asia.
Earlier the company had raised INR 1.8 crore in 2014 led by GSF, and other investors such as Globevestor, Asian Ecommerce Alliance GmBH, and People Group. After this, it secured INR 2 crore from angel investor Ashwin Chadha and USA’s Globevestor in 2015. In July 2016, it raised $1 million by Ashwin Chadha, GSF Global, Globevestor (USA), AECAL (Germany), and Mauj Mobile. GSF Accelerator after seed round investment in the startup, has got an exit with this deal.
Each activity subscription box is loaded with play-based activities for kids that promote early child development in a fun and explorative way. With a new theme every month, this research-based box is crafted by montessori experts and child psychologists, and caters to the 12 developmental areas of a child such as painting, drawing, and games.
“Flinto is revolutionizing the way children learn and play, all across India. Today, we have more than four lac customers for Flintobox in over 700 cities and towns in the country. We will use the funds to further strengthen our leadership position in this space and expand to every nook and corner of India,” said Arunprasad Durairaj, CEO and co-founder, Flintobox, reported TOI.
Flintobox was founded in 2013 by Arunprasad Durairaj, Shreenidhi Srirangam and Vijay Gandhi in Chennai.
Flintobox, which turned profitable this year has registered a revenue of Rs 13 crore. In June, the company launched FlintoClass – termed as ‘Pre-school in a box’ – a comprehensive product for preschools to deliver high quality early learning program for kids.
Apart from Flintobox, CocoMocoKids, Smartivity, Xplorabox, Enchantico, MagicCrate, PodSquad and Crafty Chimp are some other startups competing in the similar space or has some different niche for instance, Enchantico curates books, while PidSquad is a mix of all books, puzzles, game, etc.