PlayShifu, an augmented reality (AR) tech startup, based out of US and Bengaluru, has locked $7 million (approx ₹48 crore) in Series A funding round led by Chiratae Ventures, Inventus Capital and Bharat Innovation Fund. While, the existing investors IDFC-Parampara Fund was also the part of the round.
The startup will use the infuse funds for expansion of its tech process through its aggressive strategic plan.
“We have an exhaustive product pipeline, an incessantly creative and passionate team of innovators, and now, the right partners to make an extremely positive impact on the educational foundations of generations to come,” Vivek Goyal, CEO and co-founder of Playshifu, said.
Till date, the AR-driven startup has raised $8.5 million, and the company claimed to have its primary focus on rech innovation, research on unique phygital interactions and new product developments.
“We now have the tools at our disposal to execute against an even more impactful retail strategy and presence, while we continue to strengthen our position as the segment leader and disruptor in the early learning space,” added Advani.
At present, the startup has a retail presence in several markets including the US, Canada, UK, Russia, Germany, Ukraine, Poland, Hong Kong, South Africa, Middle East, and Japan.
PlayShifu’s first flagship product Shifu Orboot, is an AR-based globe that promises an adventure around the world. The user base has crossed 250,000 kids worldwide.
The startup claims that in less than a year, teachers and technology integrators from hundreds of schools in the US, Europe, and India discovered PlayShifu and experimented with adopting the innovative products in their tech-friendly classrooms.