PlayShifu’s Revenue Crosses INR 100 Cr Mark In FY25

Bengaluru-based augmented reality (AR)-driven toys and games startup PlayShifu’s revenue crossed the INR 100 Cr mark in FY25, its cofounder Dinesh Advani told Inc42. 

As per its unaudited numbers, the startup posted an operating revenue of INR 110 Cr in FY25. This would be an increase of 27.3% from INR 86.4 Cr in FY24. The startup’s gross revenue for FY25 stood at INR 176 Cr, up 25.7% from INR 140 Cr in the previous fiscal year.

Advani said that PlayShifu managed to reduce its EBITDA loss by 50% to INR 6 Cr during the year under review from INR 12 Cr in FY24. Its net loss however, declined 42% to INR 12 Cr in FY25 from INR 20.7 Cr previously.

It is pertinent to note that the cofounder told Inc42 in February last year that the startup would turn EBITDA profitable in the next six months, that is by August 2024.

Founded in 2016 by Advani and Vivek Goyal, PlayShifu is an educational tech toy startup that creates interactive STEAM (science, technology, engineering, arts, and maths) learning experiences for kids in the 4-11 age group. 

The startup blends physical play elements, like shapes, blocks, gamepads, and flashcards, with digital apps with the help of AR to teach concepts like coding, maths, language, geography, and music.

The startup claims that its products are designed in-house by a team of educators, technologists, and designers. Advani claimed that 45% of the startup’s customers continue engaging with products even after six months, a rare figure in the toy industry. 

While PlayShifu sells its products across 40 countries, its major focus remains on the US and India. While the US accounts for 50% of its revenue, the Indian market brings in 25%.

PlayShifu’s products are also available on platforms like Zepto and Swiggy in India. However, quick commerce’s contribution to the startup’s revenue is small. “It (quick commerce) works better for groceries. We’re present but not focused there,” said Advani.

In the US, the startup sells its products both offline and online. While it sells its products online on platforms like Amazon and Hamleys, it has partnered with offline stores like Barnes & Noble, and QVC. 

Without disclosing the name, Advani said PlayShifu’s products will also be available at a large US retail store chain by the end of this year.

Going ahead, he said, PlayShifu is targeting an operating revenue of over INR 200 Cr in FY26 and an EBITDA profit of INR 8 Cr. 

Besides, the startup is also in talks to raise $12 Mn to $15 Mn by the end of 2025, Advani added. 

Notably, in February 2024, Inc42 reported that PlayShifu raised $6 Mn from the likes of Inflexor Ventures, Chiratae Ventures, Bharat Innovation Fund, and Athera Ventures Partners. Overall, the startup has raised a total funding of more than $41 Mn to date.