Bengal-based adtech company Plato Labs has raised $ 531,000 (INR 4 crore) in a seed funding round led by Inflation Point Ventures, one of the largest angel investment platforms in India.
The round was attended by partners of the upcoming Fund Destroyers Capital, including Raj Snehil Juneja (Chief Investment Officer), Krishna Kumar (Founder, Simpliferen), Kunal Walia (Founder, Simplifywork), Shaswat Kumar (Managing Partner, Farm Advisor) and Tonmoy Shingal and Ketan. Other entrepreneurs including Kapoor (Founder, Metal), Sachin Sharma (Founder, Townscript), Rajesh Rajdan (Founder, Devtron Labs) and Kuldeep Dhankar (SVP, CleverTap).
With the latest funding, Plato Labs plans to build a stronger team and grow its customer base.
Founded in 2020, Plato Labs helps kids develop the skills, curiosity and confidence needed to win the future while having fun. It consists of a combination of online one-on-one sessions with hardware toys and teachers that act as facilitators. The pedagogy of Plato Labs makes students feel like they are playing while studying and helps them solve creative and innovative problems.
Plato was created to prepare students for the future through their own learning. The team is passionate about experiential learning and previously created the SkyFi Lab, where they developed more than 100 classes and online empirical learning programs for UG-level students in technology. The event had 400,000+ enrollments from 65 countries.
Speaking about the company, Pawan Ponnaganti, founder and CEO of Plato Labs, said,
“Toys are a great way for children to learn. My daughter (3 years old) has learned a lot just by playing with toys, even though she did not go to pre-school because of Kovid-19. But toys are unable to meet the learning needs of children after 7 years of age. As a result, children rely solely on their school to learn.
Through Plato Labs, we are developing products as a solution to this and creating a more relevant learning method for children over 7 years old. The goal is to make children truly enjoy science and technology, and we believe that real innovators of the future will emerge. We currently offer robotics products for children and we are pleased with the feedback we have received from students and parents around the world. We are launching more products soon. “
Plato not only helps in learning science but also in building personality. Play-based learning encourages children to explore, think, try, make mistakes and learn from them. As a result, the child becomes a curious lifelong learner, a confident innovator who thinks outside the box and can see beyond the obvious.
Commenting on the investment, Vinay Bansal, founder and CEO of Inflation Point Ventures, said,
“Our children are growing up in the age of technology and it is becoming easier to use gadgets even before they learn to speak. The Plato model is helping parents and their children use technology in a more positive way where children are learning something new and engaging themselves. In a constructive way. It simply came to our notice then.
Plato Labs claims that its products for children are already paying customers in 33 countries within a year of its launch and is growing strong every month.
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