Ed-tech startup Xplorabox raises angel funding from SucSEED
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Delhi-based Xplorabox, which offers a subscription-based activity box for children, has raised an undisclosed amount in angel investment from SucSEED Venture Partners.

Green Shoots Capital, an investment platform aimed at startups; JITO Angel Network, the angel network of Jain International Trade Organisation; Indore-based angel network SWAN Angel Network and a group of individual investors also participated in the funding round.

Besides, California-based early-stage investor Metaform Ventures LLC contributed in this round, SucSEED Venture Partners in a statement.

Xplorabox, operated by Imagismart Solutions Pvt. Ltd, had earlier raised an undisclosed amount from Mumbai-based startup accelerator Z Nation Lab, Metaform and Mumbai-based Sridham Enterprises LLP in September last year. 

The startup plans to use the fresh capital to scale up and enter overseas, beginning with North America and Gulf Cooperation Council (GCC) countries. 

The Delhi-based startup was founded in 2015 by husband-wife duo Rishi and Shweta Das and two other individuals -- Dhirendra Meena and Rishabh Gupta. The company's platform is designed to engage children between the ages of two and 12 through its activity-based learning programmes.

Xplorabox has served more than 50,000 customers, dispatching learning kits to over 500 cities every month, the statement said. 

Co-founder and chief technology officer Meena said the company also aims to launch new products in the next nine to 12 months. 

The statement said the company is seeking to tap 300 million kids in India in its target age group and another 15 million who are getting added annually. It estimates the total addressable market for activity-based learning kits in the country to be at least $4 billion.

“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," said Vikrant Varshney, co-founder and managing partner, SucSEED. "This ensures that kids have reduced exposure to screens and helps improve children learning skills."

SucSEED was founded in 2016. It invests in segments such as fintech, ed-tech, real estate technology and HR technology.

Its investments include end-to-end digital rent management platform Paymatrix and publishing house Leadstart Publishing.

Ed-tech funding deals

There have been several deals in the ed-tech sector over the past year.

Bengaluru-based Byju’s emerged as a unicorn, valued at $3.8 billion, in December last year after it raised $540 million in a round led by South African tech conglomerate Naspers.  Canada Pension Plan Investment Board (CPPIB) contributed a big portion to the funding round.

Mumbai-based Toppr raised $35 million in a Series C funding round from new and existing investors in December last year.

Earlier this year, quiz-based learning ed-tech startup iChamp said it raised an undisclosed amount in a pre-Series A funding round.

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