Play Shifu is an augmented reality-based, interactive educational games startup that is run by the Bengaluru – based MobilizAR Technologies Pvt. Ltd. The startup announced yesterday (09/11/2017) that it has raised an undisclosed amount of Pre Series funding led by IDG Ventures and IDFC-Parampara Fund. The startup will use the funds to expand its footprint globally, upgrade its technology platform and expand its team. Read more on Investments
The startup was founded by Stanford and IIT Kharagpur alumni, Vivek Goyal and Dinesh Advani during June, 2016. During May 2017, it was selected for FbStart funding, mentoring and incubation program.
“We strongly believe in technologies that bridge the gap between the physical and digital worlds, specifically for early-learning. The tremendous global response for Shifu’s Orboot game, the smart globe, has given us a major boost in the education-technology space”, said Goyal.
Play Shifu is one of the few Indian startups to have been able to commercialise augmented and virtual reality-based products successfully and sell them to customers globally, according to Jatin Desai, a general partner at IDFC-Parampara Fund.
“The success of Play Shifu’s Orboot game on kick starter in such a short time with limited resources speaks highly of the team’s domain knowledge and market opportunity”, said IDG Ventures India Advisor’s director, Karthik Prabhakar.
Quite a few augmented reality and virtual reality startups either got funded or were acquired this year (2017). They include the Israeli augmented reality startup, Cimagine Media which was acquired by the firm, Snap for US $40 million during December, 2016. The augmented reality start-up, Whodat Tech secured US $600,000 in seed round of funding from the early stage funding firm, Ideaspring Capital during April, 2017. The Virtual Reality Startup, Absentia raised Rs. 8 crores in Pre Series round of funding from the early stage investment firm, Exfinity Ventures during April, this year (2017) just to name a few. Read more on Startup News
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