Mumbai based HobSpace has raised Rs 1.6 crore in seed funding led by Artha Venture Fund (AVF), an early-stage micro-VC fund. Other investors that participated in this round include Angelist Indis Trust LLP with Rs 98 lakh, Abhinav Ashokkumar Daga with Rs 7.5 lakh, Upsparks LLP with Rs 8.7 lakh, Siddharth Bhaskar Shah with Rs 10 lakh, Ronak Morbia with Rs 10 lakh, and Icebreaker Tech LLP who chipped in Rs 5 lakh.
HobSpace was founded in 2019 by Priya Goel Sheth, Harsh Jain and later joined by Bhaskar Raju Konduru. It is a platform for online and offline extra-curricular activities for kids aged 3-14 years. The startup has also partnered with schools and specialist trainers in order to provide trainings and conduct lessons based on children’s hobbies and sports equipments.
Priya Goel Sheth said, “At HobSpace, we are transforming out of school activities for kids. Right in our first meeting, we realised AVF’s approach is central to help founders focus on key business metrics. We wanted a great partner who not only understands the space but is also willing to spend enough time with us while we build and scale this exciting business, and who better than AVF!”
Anirudh A Damani, Managing Partner at AVF said, ”I have personally invested in this space, and it has vast potential. However, what I like about Hobspace founders is their focus on unit economics and business viability. Even during the COVID-19 pandemic, they have transformed their offline model into an online model. Now, as the unlock is underway, Hobspace has two distribution channels to reach out to children and parents.”
With the help of the funding raised, HobSpace intends to transform the under-utilised school buildings, playgrounds, clubhouses, and community centres into educational playgrounds and hobby centres with diverse after-school activities.