Skillmatics Eyes $75 Million Funding Round
Premji Invest, ChrysCapital and A91 Partners are in talks to back the Mumbai-based educational games startup at a valuation of around $420 million.
Mumbai-based educational games and toys startup Skillmatics is in talks to raise around $75 million from Premji Invest, ChrysCapital and A91 Partners, according to a Moneycontrol report citing people familiar with the development.
The proposed transaction is expected to combine fresh capital with secondary share sales. Of the total round, around $18 million is expected to come into Skillmatics as primary capital, providing the company with fresh funds for its business.
FUNDING SNAPSHOT
Up to $75 million — Proposed funding round
Around $420 million — Skillmatics' reported valuation
$18 million — Expected primary capital
The remaining portion of the transaction is expected to largely involve secondary share sales. Existing investor Peak XV Partners could partially dilute its holding through shares worth around $40 million, according to the report.
The proposed transaction values Mumbai-based Skillmatics at approximately $420 million, marking a significant valuation for the educational games company.
Skillmatics was founded by Dhvanil Sheth and operates in the children's educational games and learning-products segment. The company has built its business around products designed to combine play with learning and skill development.
The involvement of investors such as Premji Invest, ChrysCapital and A91 Partners would bring prominent institutional capital into the company if the negotiations result in a completed transaction.
KEY DEAL DETAIL
The proposed round is not entirely fresh funding. Only about $18 million is expected to be primary capital, while a significant portion of the transaction would involve existing shareholders selling shares.
The potential partial exit by Peak XV also gives the transaction a significant secondary component, allowing an existing investor to monetise part of its holding while new investors enter the company's cap table.
The discussions remain ongoing, meaning the final size, investor participation and transaction structure could still change before a deal is completed.