Flinto’s funded for child play
Flinto is an education startup based out of Chennai named after an orange colored octopus. The company founded in 2013 by Arunprasad Durairaj and Vijaybabu Gandhi. Its target market is children from the age of three years to seven years which known to be development phase of every child.
Flinto has positioned toys called as ‘development toys’ and service them thru subscription service. The idea is to keep the child engaged through learning activities. Flinto sells toys conceptualized by educators, prototyped by designers, and manufactured by state of the art printers.
Flinto toy boxes contain toys themed around topics like wildlife, vegetables, coloring, outer space, numbers and others, covering 12 developmental rudimentary skills of a child. It addresses cognitive, motor, creative, social and language skills that a child needs. Each month will have different activities and themes. Flinto also sends newsletter to parents on the maximization of the products in the toy box.
Flinto has first mile advantage in this sector, further capitalized by higher quality and design. There is no competitor for Flinto apart from few offline manufacturers and online merchandisers like Tollabox which operates in Germany.
The company has garnered a sizable chunk of subscription of 600 customers within 2 months of launch of the product in Chennai. Out of 600 customers, 450 of them on tri monthly subscriptions and rest 150 of them on monthly subscription mode. The company revenue is pegged in the region of Rs 3 to 5 lakhs; the company expects to climb further Rs. 50 lakhs by this financial year end 2014-15.
The company is going to achieve break even once they start shipping 1,500 boxes each month to 230 locations across India. Right now Flinto toy box costs are around Rs.5 lakh per month. No advertisement budget has been factored, started with modest 80 boxes per month steadily climbed to 300 boxes each month.
Flinto has plans to launch their services in Delhi and Mumbai which are biggest markets for toys and have launched in Bangalore recently. The company supplying to a Singapore based retailer and expecting orders from African countries like Tanzania and Nigeria.
During August 2013, Flinto received seed fund of $35,000 from GSF Accelerator, a part of Global Super Angel Forum.
During October 2014, the company received another tranche of seed fund for $300,000 or Rs 1.8 crores from GSF Accelerator and Globevestor, a global online venture capital platform based in San Mateo and few others. Flinto is planning to use this funding to expand its marketing and operations.