Jaipur-based start-up Logic Roots aims to teach children math skills through board games.
A tournament for rats as a tool to learn multiplication tables might sound preposterous to most of us but that’s exactly what Jaipur-based start-up Logic Roots is offering schoolchildren.
The game, called Say Cheese, involves rats vying for a larger share of cheese. Similarly, Ocean Raider's another game, teaches children addition; Monkey Fractions, well, fractions.
Aimed at students of classes I to V, the purpose of these board games is teaching children simple mathematical skills.
"We have broken simple mathematical problems into 650 skills. Each board game revolves around specific skills," says Logic Roots Chief Executive Officer Kunal Gandhi.
In 2011, they founded the company which develops board games and apps for children.
Around 50 per cent of the company's sales are generated by board games; many, the founders claim, are bestsellers on amazon.in.
Board games - The pull factor
Till now, Logic Roots has developed 16 board games.
"Sales are growing at the rate of 25 per cent a month. Our apps have seen downloads in excess of 20,000 in the last six months," says Gandhi.
Priced in the range of Rs 300 to Rs 900, these apps generate most of the company's revenue. The annual subscription for an app is Rs 1,200. The company has also tied up with 21 schools to push its products and is building partnerships with non-government organisations to reach out to more children.
"The process of learning has relied on the push factor so far. Children are pushed to learn skills they may not enjoy. Both parents and government agencies spend enormous amount of money on making children learn. The pull factor has been missing though. What we are trying to do is to make learning a fun," says Kumar.
The start-up raised Rs 2.5 crore in April this year in a fund-raising round led by angel investment firm ah!-Angels. Calcutta Angels and 91SpringBoard also took part in the round. "The team is fantastic. It focuses on all processes," said Mansi Matela of Palaash Ventures, one of the investors.
Obstacles ahead
The space Logic Roots operates in is intensely competitive.
Besides Leapfrog and Learning Resources that build educational games, Logic Roots has to compete with IXL and meritnation.com as well.
"The quality of product is the key to staying ahead in the space that has so much competition," says one of the investors in the company.
Another challenge is expanding its reach. Most of its products are currently sold online, mostly through e-commerce portals such as Amazon and Flipkart. The company is betting big on tie-ups with institutions.
"We are in the process of forging alliances with some of the foundations that working in education," says Kunal.
Way forward
The business of interactive educational games is estimated to be a $3-4-billion market clocking double-digit growth. Since the company is focused on imparting mathematical skills for students till Class V, it sees a big opportunity through constant innovations. The company is also betting big on global foray.
"We expect at least 50 per cent revenue from overseas," says Mansi. The company currently operates in the US through apps and there are plans to enter markets such as Australia and the UK in near future.
The company plans to take its headcount to 24 from the current employee base of just five. Going forward, the company also expects to provide supporting infrastructure to other ventures operating in the same space.
FACT BOX
Company: Logic Roots
Area: Education
Founders: Kunal Gandhi, was earlier with McKinsey. Gunjan Agrawal, was earlier Barclays Capital and Career Point
Achievements: Tied up with 21 schools. Apps downloaded 20,000 times in six months
Recent funding: Rs 2.5 crore from ah!-Angels, Calcutta Angels, 91SpringBoard and others
Gandhi and his co-founder Gunjan Agrawal are both Indian Institute of Technology-Bombay alumni.
EXPERT TAKE - Karan Maheshwari
Logic Roots is an example of an education technology company focused on getting children to learn math and love the subject using an interactive mobile app.
The idea is simple: Instead of the parent making the child to do math, the child himself should want to download the app and play games teaching himself the subject. Given math is a liner subject and arguably the foundation of all other subjects, this is an idea that is well placed.
Great promoter team from IIT and Mckinsey, a simple idea with a massive market, a repeat user base in a market where the smart phone is changing the way we learn is what makes the business attractive.
Low barriers to entry and the need for scale in not only numbers but also subjects and speed of execution are the key risks for such a business.
I believe with the right mentoring and support, this company can easily challenge some of the large contemporary education content providers today and also help build a better foundation for math education for India's children.
Karan Maheshwari is an angel investor who has invested in the education space.
