Chennai based Flintobox has raised $7 Mn in a Series A funding round led by early-stage venture capital firm Lightbox. Existing investors Globevestor, Ashwin Chadha, Asian E-Commerce Alliance and Mauj Mobile also participated in this round among others. The development was confirmed by a Flintobox spokesperson.
Flintobox is an educational subscription ecommerce startup designed to engage children in an activity-based learning. It raised $279K (INR 1.8 Cr) from a group of investors led by GSF Accelerator along with Globevestor, a global online venture capital platform based in San Mateo in California; Asian Ecommerce Alliance GmBH and People Group in October 2014.
With this deal, GSF Accelerator has taken an exit from Flintobox. The startup will use the newly raised funding to expand its business in the unorganised pre-school segment through its enterprise offering, ‘FlintoClass’, which is an activity-based pre-school system for independent preschools.
As stated by Arunprasad Durairaj, Flintobox co-founder and CEO in a media interaction, “We will use the funds to consolidate our leadership position and to expand to even the remotest parts of India. Specifically, we are looking to deepen our leadership team across verticals for both our enterprise and home products. Funds will also be used to strengthen the company’s leadership teams across product development, logistics and supply chain, marketing and sales verticals.”
Started by Vijaybabu Gandhi and Arunprasad Durairaj in 2013, Flintobox is a theme-based monthly activity box for 3-7-year-old children, it is designed to engage children in a meaningful way at home. Every month, there’s a new theme, filled with activities based on science, art and craft, custom illustrated books and games are delivered to the customers.
Flintobox offers carefully selected content that covers numerous development areas including fine motor, cognitive and gross motor, creativity, exploration, language, and social skills.
Earlier in December 2016, Flintobox also sued ecommerce retailer Amazon for damages amounting to about $15K (INR 10 Lakhs). The company claims that Amazon illegally used the former’s brand name as a keyword to drive traffic to its own website.
Lightbox, on the other hand, floated its expansion fund of $54 Mn in December 2016. Its current portfolio includes companies like Faasos, Furlenco, Droom, Melorra, and Embibe. Earlier this year, in April 2017, Lightbox also led the $20 Mn funding round of Pune-based online food delivery startup Faasos.
After Embibe, Flintobox is another major investment in the edtech sector led by Lightbox. The sector trends strongly indicate the growing demand for innovative content in the edtech sector. today, parents are found to be aggressively looking for options to keep their kids away from gadgets. In such a scenario, startups like Flintobox offering subscription-based content have high chances of survival in the long run. Other startups offering similar services in subscription ecommerce segment include Xplorabox, Podsquad, Butterfly Fields, Genius Box, Einstein Box, Magic Crate, SP Robotics Work, Canary Crate, Small Brown Box and more
An email sent to Flintobox for further details did not elicit any response till the time of publication.