Bengaluru: Funfinity Learning Solutions Pvt. Ltd, which makes Magic Crate subscription-based activity kits for children, on Thursday said it has received seed investment from Aarin Capital, T.V. Mohandas Pai, chairman of Manipal Global Education Services (who invested in his personal capacity), Narayanan Ramaswamy, Sethuraman Sivaramakrishnan and others. The company did not disclose the size of the investment.
The Bengaluru-based start-up, which was launched in 2015, said it was going to use the funds to expand its product portfolio, grow its team and scale manufacturing.
“Research shows that about 80% of critical brain development happens before a child turns 8. This has a direct correlation with what they are exposed to, during those years. Also, in this age group, they have a phenomenal amount of free time and it becomes a big challenge to engage them at home. Magic Crate is solving this pain point for millions of busy, but well-intentioned parents,” said Viswanathan Ramakrishnan, co-founder Magic Crate, in a statement.
The firm said it ships several thousand activity crates each month, customised to specific age groups, with the prices starting at Rs.549.
“The early childhood learning challenge is not just a child-oriented problem, but one that is also driven by the need for parents to engage their children in the right manner. The Magic Crate team has deep expertise in the field, and is leveraging its domain experience and design talent to scale production and adoption very responsibly and successfully,” said Pranav Pai, who invested in the firm on behalf of his father, Mohandas Pai.
Magic Crate competes with Chennai-based Flintobox which also offers activity boxes for kids on a subscription basis.