PlayShifu raises USD 7 million

PlayShifu, a start-up focussed on augmented reality technology, on Thursday said it has raised USD 7 million (about Rs 48.2 crore) in funding led by Chiratae, Inventus Capital and Bharat Innovation Fund.

The series-A round also saw participation from existing investor IDFC-Parampara Fund, a statement said.

PlayShifu creates immersive augmented reality experiences for children to encourage early STEM (science, technology, engineering and mathematics) skills.

"With USD 8.5 million raised to date, the company's primary focus will remain on tech innovation, continued research on unique phygital interactions and new product developments. PlayShifu also plans to update current products significantly and expand the diverse retail presence from 15 countries to over 30 countries in 2020 and beyond," the company said.

In this context, phygital refers to a combination of interactions through physical and digital mediums.

With two consoles (Shifu Orboot and Shifu Plugo) currently available, ...