What is Magic Crate?
Schools are not just a source of education for kids. They learn to play games, interact with friends and have fun during various activities there. However, in the present situation where all schools are closed, this routine has been hindered. Online classes can never replace the traditional mode of learning for young kids. The parents are also going through a tough time playing the role of a teacher, guide and a friend. Some find it very hard to be there for their children in the learning process. In such a situation, the best solution you can find is Magic Crate, a box full of magical stuff that can keep your kid entertained.
Magic Crate (1) is an Activity Box subscription service based in Bangalore. Using the contents in the box, you can help your kids to learn new things through various fun activities. It was founded in 2015 by Viswanathan R and Karthik Lakshman. The startup has a team of experts from different areas like childhood education, item planners, and toy and game developers. They began with a group of five, and now has 135 workers who contribute every day to make this startup a huge success. Parents all over India are making use of Magic Crate to make learning a fun experience for them and their kids. Magic Crate is precisely what you need to become the best parent for your kids.
The idea of Magic Crate
Magic Crate was born when the founders were discussing a real-life problem in their family lives. Both Viswanathan and Karthik found it challenging to take proper care of their toddlers during their busy life. A child needs not only physical care and attention but also intellectual guidance. All working parents resorted to effortless solutions like gadgets and playschools. Vishwanathan and Karthik decided to come up with a new and innovative idea that could help to keep the kids entertained and happy. This vision is what gave rise to the edtech startup called Magic Crate.
Most toddlers are always walking around, looking for new objects to play with. Even if you buy them the most valuable toy in the store, they will get tired of it after a few days. Kids are easily bored, irritated and unpredictable. With traits like these, getting them to learn something new can be a mammoth task for the parents. Therefore the founders of Magic Crate started to think of a way to make learning entertaining. When they first started business in 2015, no other enterprise had been catering to this specific need. Moreover, the home-delivery system was what attracted more customers because of the convenience that It offered.
About the founders
The co-founder of Magic Crate, Viswanathan R, is an alumnus of IIT Varanasi and has also completed a management degree from IIM Kozhikode. Before starting the journey of Magic Crate, he has worked with Tutorvista, another edtech startup that offers online tutoring. He was a member of the senior management group at Tutorvista and drove the business endeavours for its school division. Karthik Lakshman is a graduate from Georgia Institute of Technology and ran activities at Coca-Cola, GE and HP. He had also completed five years at the executives counselling firm Mckinsey and Co, where he drove the business procedure and examination groups.
It was after he came back to India in 2014 that Karthik began an online food ordering platform. However, he soon had to close it down due to some issues. He had assembled a tech and digital marketing group for the food ordering startup, so it came in handy when he started Magic Crate. Vishwanathan also developed a product design, business model and supply chain management team. As of now, Viswanathan takes care of funding, product design, tasks, investor management etc. at Magic Crate. Karthik looks after advertising, innovation, and online business deals.
The services of Magic Crate
When you subscribe to the Magic Crate services, you get a box full of exciting activities, storybooks, toys etc. The subscription is available in three-month, six-month or one-year plans. For each box from Magic Crate, they charge around 500 rupees. It is definitely worth the price because of the value of what is in the box. The activities in the box are carefully planned based on various subjects like science, arts, games, etc. The team of Magic Crate has built it in such a way that the kid discovers something unique while they are busy having fun.
The crate also contains toys or artefacts which the child can earn by completing the tasks. The components of the box help the child to form significant abilities like basic reasoning, critical thinking, and imagination. It also empowers guardians to connect with their kids in an excellent manner. They conduct frequent research and studies to build creative learning strategies for young children. The use of most advanced technology also helps the company to quickly personalise their products to the needs of each child.
Ever since Magic Crate started the business, the founders were keen to listen to the feedback from customers. The emphasis that they give to client’s satisfaction is what helps them move forward. Even after the tremendous growth through these years, the team of Magic Crate has stayed true to this policy of theirs. They have designed the activities in Magic Crate in a unique way to give priority to age-specific needs. Their advanced technology helps them to sign products that would help in the intellectual development of a toddler. The startup has also collaborated with various schools to provide its items to kids up to the age of 14. Through this policy, they will be qualified to adjust the Magic Crate services according to the school academic scheme.
Funding and investments
Up until now, the organisation has raised three rounds of investments. It raised a seed round from Mohandas Pai in 2015, and the company utilised the amount to develop more items for children of various ages. Fireside adventures led the most recent round of funding. Magic Crate made use of the money from this round to extend and improve its products and services. They also spread awareness about the crates and reached a wider population. By the year 2018, the Magic Crate products had reached more than one lakh kids. They were also able to reach a milestone of 2 million dollars of annual revenue.
Link : https://timesnext.com/magic-crate-startup/
Author :- Nidhia Sebastian
August 08, 2020 at 04:14PM
TimesNext