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Sequoia Surge backed Skillmatics awarded Most Innovative Product award

Full stack direct-to-consumer brand Skillmatics has been awarded as the most innovative product (MSME) at Amazon sponsored annual event, which was conducted virtually this year. The event’s chief guest was Nitin Gadkari, Union Minister of Road & Transport and MSME.

Dhavnil Sheth took to his Twitter account to announce this news.

 

Skillmatics was founded in 2017 by Dhanvil Sheth, who is a former charter accountant and an ex-consultant with Boston Consulting Group. The startup is a part of the Sequoia Surge, a special accelerator program run by the Sequoia Capital. It has reportedly raised $2 Mn from Sequoia Surge as part of the seed funding round.

Skillmatics was recently in news for becoming the first Indian toy brand to be stocked by the iconic toy store Hamleys. This, however, is not the only feather in Skillmatics’ cap. Its product is already amongst the highest-selling educational brands on Amazon and only a few weeks back it became the No 1 Ranked Educational Game brand in the US.

The Mumbai based company claims that till date it has sold 3Mn products globally and also claims that it has already become a bottom-line profitable company. Here are some of the impressive stats about the company (as has been claimed by the company itself), over 10x y-o-y growth as a consolidated business and 18x y-o-y growth in its core market – the US. The startup also claims to clock over 2k orders daily through e-commerce platforms, with Amazon being one of its major online partners.

The company equally boasts a strong Omnichannel presence, having a solid international network of 3,000+ retail stores. North America continues to be the core market of the company.

Skillmatics is essentially a D-to- C (direct to consumer) edtech brand that builds innovative educational products to help children in building core skills in Maths, Science, and logic.

 

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