Toy market news

Mars Growth provides early learning toy brand PlayShifu with $7 million credit line

Mars Growth, a Liquidity and MUFG joint venture fund, has provided award-winning early learning company PlayShifu with a $7M credit line, bolstering PlayShifu’s recent funding round. PlayShifu plans to use the additional capital to keep pace with its unprecedented growth in the US as well as another 35 markets.

PlayShifu is the early learning tech toys company offering a variety of immersive, educational games that connect the physical and digital worlds. The play experiences are specially designed for kids ages three - 12 years and build foundational STEAM skills through fun. Founded in 2016 by Dinesh Advani and Vivek Goyal after they saw a need to provide meaningful digital play experiences for their kids, PlayShifu currently has more than 650,000 users across 35 countries, including India, the US, the UK, Canada, Japan, Germany and France.

Boosted by the pandemic trend of children learning and playing at home, PlayShifu has achieved strong consecutive years of growth including 150% year-over-year growth in revenue for three years running, after doubling its workforce in 2020. This year the company completed a $21M series B funding round. This latest financing will help the company launch an additional eight products this calendar year.