On January 6, 2025, Imagimake, a Mumbai-based startup revolutionising children’s creative play, captivated audiences on Shark Tank India Season 4. Founded by Virendra Parekh, the company pitched its innovative arts and crafts kits, securing a Rs 50 lakh investment for 5% equity. This article delves into Imagimake’s journey, its founder’s vision, the funding deal, and its impact on the educational toy market.
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A Vision for Creative Play
Virendra Parekh, a former finance professional, launched Imagimake in 2011 to fill a gap in India’s toy market: high-quality, educational craft kits that spark creativity. Inspired by his own children, Parekh aimed to create products that blend fun with learning, from 3D model kits to augmented reality (AR)-enhanced games.
Imagimake’s flagship products, like Mapology and Stampology, encourage hands-on creativity and problem-solving. By 2025, the company had sold over 1 million kits across 20 countries, according to its official website.
Why it matters: Imagimake’s focus on STEAM (Science, Technology, Engineering, Arts, and Mathematics) education aligns with global trends prioritizing skills-based learning for children.
The Shark Tank Triumph
On Shark Tank India Season 4, aired on SonyLIV, Parekh pitched Imagimake’s vision to a panel of seasoned investors. Seeking Rs 50 lakh for 2.5% equity, he showcased the company’s profitability and global reach. The Sharks, impressed by Imagimake’s 300+ product range and Rs 16 crore annual revenue, engaged in a competitive bidding war.
Ultimately, Peyush Bansal, CEO of Lenskart, and Vineeta Singh, CEO of SUGAR Cosmetics, offered Rs 50 lakh for 5% equity, valuing Imagimake at Rs 10 crore. Parekh accepted, citing their expertise in retail and branding as key to scaling the business, per SharkTankIndiaClub.com.
Why it matters: The deal highlights Shark Tank’s role in connecting innovative startups with mentors who can amplify their growth, especially in India’s burgeoning edtech sector.
Funding and Financial Snapshot
Imagimake’s net worth is estimated at Rs 10 crore post-Shark Tank, based on the deal’s valuation. The Rs 50 lakh investment will support product expansion, marketing, and international distribution. India’s toy market, valued at $1.5 billion in 2023, is projected to grow at 15% annually through 2028, per a Statista report, driven by demand for educational toys.
For context, ThinkerPlace, another Shark Tank India 4 startup, raised Rs 90 lakh in January 2025 to enhance its DIY STEAM kits, showing how such funding fuels innovation in the sector.
Why it matters: Imagimake’s funding positions it to capture a growing market, fostering creativity among children while boosting India’s toy manufacturing ecosystem.
Case Study: Innovating in Edutainment
Imagimake’s success stems from its ability to merge education with entertainment, a concept known as edutainment. Its AR-enabled kits, like Mapology, teach geography through interactive games, while Stampology fosters artistic expression. These products cater to children aged 3–14, aligning with cognitive development stages.
A comparable example is Osmo, a U.S.-based edutainment company acquired by Byju’s in 2019 for $120 million. Osmo’s interactive learning games saw a 30% sales surge during the pandemic, per Forbes, underscoring the global demand for such tools. Imagimake’s localized approach gives it an edge in India and beyond.
Why it matters: By prioritizing creativity and STEAM skills, Imagimake prepares children for a future where innovation drives economic and social progress.
Challenges Ahead
Despite its Shark Tank success, Imagimake faces hurdles. The toy market is competitive, with global players like LEGO and local brands vying for share. Maintaining affordability while scaling production is a challenge, especially with rising raw material costs. Additionally, penetrating rural markets requires strategic distribution and awareness campaigns.
However, Bansal and Singh’s mentorship could prove invaluable. Bansal’s retail expertise, with Lenskart’s Rs 1,500 crore revenue in 2024 (Economic Times), may guide Imagimake’s e-commerce and offline expansion.
Why it matters: Overcoming these challenges could position Imagimake as a global leader in edutainment, inspiring other startups to innovate in niche markets.
Shaping the Future of Play
Imagimake’s Shark Tank journey is a testament to the power of vision and innovation. Virendra Parekh’s pivot from finance to crafting educational toys has not only built a Rs 10 crore business but also ignited creativity in millions of children. With Peyush Bansal and Vineeta Singh’s backing, Imagimake is set to redefine play in India and beyond.
This story reflects a broader shift toward meaningful, skill-based toys that empower the next generation. As Imagimake crafts its next chapter, it invites us to reimagine play as a tool for learning, creativity, and growth.
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