Founded in 2016 by Vivek Goyal and Dinesh Advani, edtech start-up PlayShifu is providing an exciting and rich experience for children by building upon early STEM skills. With the improved interactive, reality-based toolbox, the company claims its services are used by more than 600 dynamic users and schools and is growing significantly every year.
The heart of PlayShifu’s technology is Augmented Reality (AR), which is achieved through digital visualisation, audio or other sensory inputs. Augmented Reality is an advanced version of the actual physical world transmitted by technology and is fast catching up in the education technology industry.
PlayShifu’s Fundraising Spree
The start-up has already raised a Series A funding of $7 million. This funding stage was led by VC Chiratae, Inventus Capital and Bharat Innovation Fund (BIF) and IDFC-Parampara Fund. So far, the start-up has accumulated $8.5 million from its significant operations in the United States and India.
Market and Sector Trends
Children are increasingly using apps and e-learning on tablets. Consequently, they spend more time on the screen without indulging in physical exercises or interacting with the real world. In this scenario, PlayShifu provides students with augmented reality solutions focused on science and technology teaching methods to have a real-life learning experience.
In three years, the company claims to have become a multi-million-dollar company clocking an 8X YoY growth in terms of revenue. Company founders attribute this growth to the company's strategic expansion across nations besides India, as STEM education is being prioritised worldwide.
What Type of Technology does the Company Use?
Firstly, PlayShifu’s uses Shifu Orboot, an AR platform that aims to capture international adventures. It has more than 250,000 children users around the world. The latest addition to the company tech-series series is Shifu Plugo, emphasising classic machines with new digital interactive features.
Today, modern digital coding and tech skills are skills that children start to learn early on. PlayShifu aims to produce a wide range of products for this and focus on skills that can be easily refined in children starting from 12 years of age. AR is the inspiration for PlayShifu’s edtech platform. This product is specially designed for children’s entertainment by helping them develop STEAM (science, technology, engineering, art and math) skills.
In addition to its digital fantasy technology, PlayShifu’s key product component includes augmented reality puzzles and a series of questions. It offers digital board games based on the concepts of physics and chemistry. Its AR-supported magnetic sculptures for space, travel, and animals with AR-compatible flash cards are also a rage.
What can others do in this edtech segment?
Traditional schools and educational institutions worldwide, especially those in emerging digital tech markets such as India, the USA, UK and Canada, are adopting e-teaching and learning methods. In the United States, over 400 schools have educational games in their classrooms.
For edtech companies and mainstream services like e-classes and courses, transferring most STEM skills through AR can help you reach large departments. An essential factor in the development of tech businesses is that education is a critical priority in all countries. This allows educational institutions to invest in digital transformation technology products offered by start-ups.