[dropcap]A[/dropcap]iming to develop its product, user growth and content partnerships, Bangalore-based Toko Innovations Studios Pvt. Ltd, which runs a children’s entertainment portal called Imaginry, has raised Rs 3 crore (around $450,000) in angel funding.
The round was co-led by IAN and Rajasthan Angel Investor Network (RAIN). investors from IAN were Roopak Saluja, who is the founder and CEO of The 120 Media Collective and Vishal Khare.
Aditya Mukherjee, co-founder and CEO, Imaginry, said, “We realized that children’s entertainment in India is still at a very nascent stage – so there is a huge market gap to be filled. With Toko, we aim to create a platform and a collaborative ecosystem that will revolutionize Indian children’s entertainment.”
Imaginry creates content for children that can be viewed on mobile and web browsers and help kids to enjoy and discover videos, games, factoids, music, art and photos.
It was founded in February 2014 by Aditya Mukherjee, Arnav Mukherjee and Ajitsen Surendran. Prior to founding Toko, Mukherjee was working with Bain & Company as a strategy consultant. Surendran has earlier worked with Yahoo.
Saluja, said, “With the proliferation of devices and increase in bandwidth, the power of choice is shifting to children and parents. Now is the right time for a localized kids content platform. We’re backing the TOKO team because we have conviction in their vision and execution ability and are excited about the opportunity to help them succeed.”