Imaginry, an online entertainment portal for kids which produces cartoon videos, online games and other varied learning content, has raised a speculated $450,000 in a seed round led by Indian Angel Network. The amount has been confirmed to us from sources involved directly in the deal.
Apart from IAN, investors from Rajasthan Angel Investor Network (RAIN) and few other independent angel investors have also participated in the current round. The investors include Suresh Kalpathi, founder of SSI and Kalpathi Investments; Akshay Garg, founder of Komli Media; Srikumar Misra, founder of MilkMantra; and Rohit Krishnan, UK Head of Mckinsey- Scale up, among others.
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Commenting on this latest round, Mahavir Pratap Sharma, Chairman of RAIN, told The Tech Portal,
Imaginry is a path breaking technology and a great concept. We have invested in the company seeing their highly capable and motivated team. The product is something which would change the way online learning has been perceived, for kids in India.
For RAIN, this will be their third investment in a short span of half a month or so, with their previous investments in Blue Box Media hyperlocal fashion commerce platform Yufta. It further signifies the rapid pace of investments and ideas — both originating from Jaipur.
The funding will be used by the startup to further develop its product. It will also spend amount to partner with others for content development and to increase its userbase.
Imaginry is a children’s entertainment portal that gives children access to hundreds of animated shows, games and thousands of carefully curated learning videos.
With its offering, the company aim to bring the best of children’s content to user’s home. It is currently targeting the Indian market with an aim to expand across emerging markets globally, including a strong focus in the Asian market.
Right now, it has a team of eight people, but it is planning hire more people. The company is currently focused on increasing its user base and targets to achieve break-even by the end of year 2017.
Imaginry is a part of TOKO Innovation Studios, was founded in 2014 by Aditya Mukherjee, Arnav Mukherjee and Ajitsen Surendran. It creates content for children which can be viewed on mobile & web browsers and helps kids to enjoy and discover videos, games, factoids, music, art & photos that are interesting & appropriate for them.
Launched a few months ago, the company — whose platform is still in beta stage, claims to have received more than 1.2 lakh views on its content already. Most of the platform is still unknown though, considering that the platform is yet to go public. At the time of writing this article, Imaginry’s website is not accessible and displays message – “Bringing a fantastic new experience. See you shortly…”.
Commenting about the user behaviour and its offerings, Aditya Mukherjee, founder of the company told DealStreetAsia,
Users are staying on an average of 3x for games and 4.5x for video on the global benchmark on our website. However, we are completely revamping our product to be mobile-centric and personalised which will be launched in a few months.
DISCLAIMER : Mahavir Pratap Sharma and RAIN are investors in Blue Box Media, the parent company which runs and manages The Tech Portal.