Flintobox, a Chennai-based startup that offers a highly engaging subscription-based educational activity box, has secured around ₹45 crore ($7 million) in its Series A funding round.
The investment in the current round comes from early-stage venture capital firm Lightbox. Along with that, the startup also saw participation from Globevestor, Ashwin Chadha, Asian E-Commerce Alliance and Mauj Mobile.
However, with this funding round, GSF Accelerator — an early backer of the startup, has taken an exit from Flintobox.
The startup will use the newly raised funding to expand its business in the unorganised pre-school segment through its enterprise offering, ‘FlintoClass’ — an activity-based pre-school system for independent preschools.
The company says that FlintoClass has already reached more than 350 preschools in 25+ cities and has changed the lives of more than 4500 children in India. Arunprasad Durairaj, Flintobox co-founder and CEO said,
By the same time next year, we aim to reach 1000 preschools and in the next 5 years, every child will grow in a Flinto environment. We’re also aspiring towards a global expansion, starting with South and Middle-East Asia.
The funding will also be used to consolidate its leadership position and to expand to even the remotest parts of India. Specifically, the founders are looking to deepen their leadership team across verticals for both the enterprise and home products.
A portion of the fund will also be used to strengthen the company’s leadership teams across product development, logistics and supply chain, marketing and sales verticals.
Flintobox was started by Vijaybabu Gandhi and Arunprasad Durairaj in 2013. It offers a theme-based monthly activity box for 3-7-year-old children, which is designed to engage children in a meaningful way at home.