HobSpace on announced that it has raised Rs 1.6 Cr 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 intends to transform the under-utilised school buildings, playgrounds, clubhouses, and community centers into educational playgrounds and hobby centers with diverse after-school activities. The children have a plethora of options to pick from, including indoor activities, ballet, chess, and robotics.
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."