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Smartivity, an augmented reality-based edtech startup, has raised $1 Mn (INR 6.6 Cr) Pre-Series A round of funding led by publishing firm S Chand and early-stage investment firm AdvantEdge Partners.
This round also saw participation from Singapore-based fund CFG Offshore Holdings, Silicon Valley-based fund Tandem Capital and a clutch of angel investors.
Founded in 2015 by IIT Delhi Alumni Apoorv Gupta, Ashwini Kumar, Rajat Jain, and Pixel Juice Proprietor Tushar Amin. It is a do-it-yourself science, art and craft kits for children designed to enhance practical, creative and analytical intelligence.
It currently offers a range of do it yourself projects aimed at six years old and above. The user has to download the Smartivity EDGE application, which is available on both Android and iOS to experience the augmented-reality platform.
Ashwini Kumar, co-founder of Smartivity said, “With this round of funding, we want to expand our current portfolio in STEM and augmented reality products to provide interactive learning to kids and also develop IoT (internet of things)-enabled toys and robot-led learning for kids.”
Smartivity uses augmented reality, a technique that enables superimposing digital objects over physical ones, to help kids understand various concepts. It has two broad product ranges – STE(A)M (science, technology, engineering, arts and mathematics) learning-based do-it-yourself kits, which have a fundamental scientific concept at the core of each activity, and Smartivity EDGE, their augmented reality-enabled learning activities.
The startup will use the newly raised funds to expand its reach and aim for the global market.
Earlier this month, Bangalore-based edtech startup FitKids acquired ThinkLABS Technosolutions for an undisclosed amount in an all cash deal. Other players in this segment include Byju’s, Avagmah, Meritnation, Simplilearn, Englishleap, Testbook, etc.
The development was first reported by ET.
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