Imagimake, a company into design & distribution of innovative range of educational toys, games and art & hobby products, has raised Rs. 20 Cr from Pidilite Ventures, a wholly owned subsidiary of Pidilite Industries. Imagimake designs and distributes an innovative range of educational toys, games, and art & hobby products. The company was founded in 2019 by the husband-and-wife duo, Ravi Kumar and Disha Katharani, both graduates of IIM Mumbai and ISB Hyderabad, respectively.
Mr. Sudhanshu Vats, Deputy Managing Director of Pidilite Industries, said, "The learning and education space has evolved immensely in the past few years, and the emphasis on experiential learning provides a unique advantage to companies like Imagimake. We are pleased to support them on their journey to create innovative and distinctive product lines. We believe they have the potential to excel not only in domestic markets but also to expand into global markets."
Imagimake offers around 100 SKUs through online and offline channels and is present in 3,000+ retail touchpoints in India. The company holds multiple design and utility patents and has reached consumers across 25 countries, with the U.S. leading in terms of export sales.
Ravi Kumar, co-founder of Imagimake, states, "We are delighted to have Pidilite as an investor. They are an iconic brand we have all grown up with in some form or another in our lives. We see a lot of synergies for us across the value chain, that we can learn from and leverage in our growth journey."
Imagimake's first successes came with its Mapology series, aimed at helping children explore the world around them. Fast forward to 2023, and the range connues a steady growth path with Mission Chandrayan, a model-making set developed in collaboration with the purpose of celebrating the achievements of ISRO. Additionally, sales of the Look What I Made! range of tacle, creative play products promoting open-ended exploratory play are soaring this year.
"Imagimake operates at the intersection of play, learning, and hobby, offering mulple options to children in their growth journey to expand interests, skills, and purpose. At the heart of our design philosophy is the belief in the immense power of play. We believe that every child has a unique path of learning and growing, and we strive to make that journey more meaningful and interesng by infusing unique play interventions across all our products," shares Disha Katharani, co-founder of Imagimake.
Imagimake intends to utilize this fund for capacity expansion to meet the growing demand and invest in launching an innovative range of new products in the next 18-24 months. The company already has several products in India that feature among the bestsellers on leading marketplaces.
"With this fresh investment from Pidilite Ventures, we look forward to propelling this momentum in the journey ahead. We also thank the 100X VC team for their support and guidance throughout the process," adds Ravi.
Shares of Pidilite Industries Limited was last trading in BSE at Rs. 2459.95 as compared to the previous close of Rs. 2482.45. The total number of shares traded during the day was 9421 in over 1975 trades.
The stock hit an intraday high of Rs. 2484.50 and intraday low of 2455.00. The net turnover during the day was Rs. 23234643.00. |
