EduK8 Learning Labs Pvt Ltd, which runs global chess platform HobSpace, on Wednesday said it has raised pre-Series A funding of $4.5 million (around Rs 35 crore) from Mankekar Family Office, Artha Venture Fund, Siddharth Shah and Dharmil Sheth from API Holdings and others.
The Mumbai-based startup plans to deploy the fresh capital for deeper investment in products and technology, to boost overall experience for the students and to ramp up global footprint.
“We believe that chess is not just a 21st-century skill- it is, in fact, a life skill. Students who play chess early in life grow up to become well-rounded individuals. Playing chess challenges the intellect and makes kids smarter. HobSpace has created the perfect chess curriculum for kids that provides guided training, practice, and game analysis," said Priya G Sheth, Co-Founder of HobSpace.
Founded in 2019 by HobSpace is an online chess learning and playing platform for children.
Initially, HobSpace started offering several extracurricular activities for kids. Later, they pivoted to building a global chess learning platform for kids in 2021.
The platform said that it has taught over 15,000 kids across North America, India, and the United Kingdom, among other regions.
“We are building a world-class online-first, global chess academy. The fresh round of funding will allow us to use technology to expand the global chess community and make chess coaching accessible to children all over the world," said Bhaskar Raju Konduru, Co-Founder of HobSpace.
Last year in January, HobSpace raised Rs 1 crore (around $136,666) in its pre-series A1 funding round from Inflection PointVentures . Prior to that, it raised Rs 1.5 crore (approximately $204,800) in its seed round of funding led by Artha Venture Fund in 2020.