SucSEED Venture partners has completed an Angel investment into New Delhi-based Imagismart Solutions, which runs an educational subscription activity box company for learning through play in children under the brand name Xplorabox. The investment round was led by Green Shoots Capital. Metaform Ventures LLC, JITO Angel Network, SWAN Angel Network, Group of Angel Investors also invested in the firm.
Xplorabox was founded in August 2015 by husband-wife duo Rishi and Shweta Das, along with two other co-founders — Dhirendra Meena and Rishabh Gupta.
Xplorabox is as an educational subscription e-commerce start-up designed to engage children in activity-based learning programmes. It focuses mainly on children aged between two and twelve and aims to promote ‘Learning Through Fun’ with its innovative products, fun stories, and educational activities each of their boxes. The company has served more than 50,000 customers and dispatching kits to over 500 cities every month.
As per Rishi Das CEO “On an average, children are spending over 3 hours every day in front of screens, this is having a huge impact on their brain development, more and more parents are becoming aware of this problem and are looking to introduce their children to physical activity based learning tools. Xplorabox provides fun, learning and boost essential developmental skills of the children”.
“Xplorabox has helped 30% reduction in screen time, 20% increase in parent-child bonding time and 90% of the parents have reported an improvement in their children’s learning skills” said Rishabh Gupta, Chief Revenue Officer an IIMC alumni
Dhirendra Meena, CTO mentioned “We are also working on some very exciting products and are targeting to launch it in next 9-12 months. These will cause massive disruption in the industry and will be loved by parents and children alike as these are being developed based on solid feedback from thousands of parents.”
“Xplorabox targets ARR of INR 100 Cr within next 3 years”
The startup plans to use the funds to scale up rapidly, and establish overseas presence beginning with North America and Gulf Cooperation Council (GCC) countries.
Speaking on why SucSEED has invested in XploraBox, Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Venture Partners, said “India’s accelerated development needs rising middle class and minds which are trained for fast-changing future. Xplorabox fills this future need of India’s young minds, by providing physical activity-based learning tools. This ensures that kids have reduced exposure to screens and helps improve children learning skills. We see immense potential in XploraBox and team to immerge as a leader in the segment, with their constant product innovation”
Speaking on why he has invested in XploraBox, Moti Vyas, one of the SucSEED investors, said “SucSEED Ventures has invested in many EdTech ventures. XploraBox fits nicely in SucSEED’s EdTech portfolio with complementary offerings. Its members’ deep knowledge base and industry experience will guide/mentor Xplorabox in their journey to success. Xplorabox mitigates the adverse impact of the digital technology revolution with hands-on learning away from screens. Xplorabox activities kits encourage participation by family and friends thus creating social bonds.”
Market Potential in Educational Subscription Activity Box Segment
There are more than 300 million kids in India in our target age group and another 15 million are getting added every year. We estimate the Total Addressable Market for activity-based learning kits in India to be at least USD 4 billion. And this is just in India – with a much larger customer base the global market is estimated to be over USD 20 billion. Add to this the potential to cross sell any other kids products and the potential to sell to a customer for up to 10 years once the relationship is established and you will start to see why we and all our investors are so excited about this opportunity.