The startup raised the funds from Roha Investment Managers and angel investor Saumil Shah. The toys and games maker will use this round of funding for growth initiatives which will include expansion of manufacturing capacity, launch of new products and hiring.
Imagimake Play Solutions, which makes a range of innovative toys and games under the brand Imagimake, has raised Rs 4.4 crore in pre-Series A round from Roha Investment Managers, and angel investor Saumil Shah.
The startup plans to use the funding to expand its manufacturing capacity, launch new products, scale up its existing product volumes and to acquire talent.
Founded by Disha Katharani and Ravi Kumar, Imagimake provides a range of constructive and innovative toys and games across themes that helps children in learning, education and creative development.
On the funding received, Disha Katharani said,
“Over the last couple of years, we have found excellent acceptance for our products all over the world, and also won several awards and accolades including featuring in the Holiday Toy List in US, so now we want to build on this strong foundation to scale our business and launch new products.”
Imagimake has toys in categories such as Mapology, Quill On, Stamp Art and more. It is now generating annual recurring revenue (ARR) of over Rs 25 crore, and its revenue has grown 8x in the last three and half years.
On the investment, Roha Group MD Mahesh Tibrewala said,
“We are delighted to invest in Imagimake and help them in their growth journey. Being a parent, we have been using Imagimake products even before our investment, and I have always seen my kids and their friends having a great time.”
Imagimake markets its products across online and offline channels in over 25 countries across the world. It is available on platforms such as Amazon, Flipkart, FirstCry as well across over 2,000 offline stores in India. Besides, it also has a direct to consumer (D2C) channel.
Angel investor Saumil Shah said, “With increasing disposable income and more discerning millennials entering parenthood, the market is ripe for growth. Imagimake has a good track record and is well poised to leverage the market opportunity.”