By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com
Bangalore-based Magic Crate, an early childhood learning brand, has raised an undisclosed amount in its third round of institutional funding led by Fireside Ventures. The Company had earlier raised funding led by Mohandas Pai backed Aarin Capital and 3One4 Capital. The latter also participated in the current round.
Magic Crate was started in 2015 by IIT-IIM alumnus Viswanathan Ramakrishnan and ex-McKinsey consultant Karthik Lakshman. The start-up provides an inquiry & play-based program for early childhood learning at home.
“Research shows that about 80% of critical brain development happens before the child turns 8. This has a direct correlation with what they are exposed to, during those years. Also, in this age group, they have a phenomenal amount of free time and it becomes a big challenge to engage them at home. Magic Crate is solving this pain point for millions of busy, but well-intentioned parents.”, says Viswanathan Ramakrishnan, Co-founder and CEO, Magic Crate.
The company offers a subscription-based service that produces and delivers hands-on activities for kids aged 1.5-13 years. The activities are designed by a team of early childhood experts & product designers, to be educational and also entertaining for kids.Every month, the child explores a new area that excites them, such as space or rainforest. And Magic Crate provides all the necessary materials, ideas and instructions for these themed activities.
Magic Crate has shipped more than 5 lakh crates till date and is growing 100% Y-o-Y. The Company is on track to touch more than 70,000 shipments per month by March 2019. Read more
