Top News

D2C toymaker Legend of Toys has bagged ₹21 Cr (around $2.2 Mn) in its pre-Series A round led by Singularity Early Opportunities Fund, with participation from Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride.

The startup plans to use the funds to deepen its remote-control (RC) and narrative play lines, scale source and manufacturing capabilities, and build out international distribution. It will also focus on growth across new play categories, including DIY, increased investment in consumer marketing, and digital expansion across global markets.

Founded in 2024 by Afshaan Siddiqui and Vinay Jaisingh, Legend of Toys is building a character-driven play universe, combining its toys and accompanying storylines with a “repair-not-replace” after-sales model that offers free lifetime service. Its key offerings include RC drift cars, high speed RC cars, and off-road RC trucks, priced between ₹1,799-₹8,799.

Legend of Toys claims to have achieved ₹30 Cr in annualised run rate in 18 months of operations, with 20% month-on-month growth. The startup is looking to drive growth through collectors who generate repeat revenue, particularly through its after-sales repair offering.

It claims that each character in its universe has a background story and is part of a larger narrative to allow children, enthusiasts and collectors to engage with the brand beyond a single purchase. The startup said this has resulted in strong consumer demand for its bestselling SKUs and a high proportion of unit-economics-positive sales through its D2C channel.

Legend of Toys is especially focussed on the ‘Kidult’ collector community, as it allows the brand to engage with deep-pocketed adults that are more likely to engage in repeat purchases of higher value toys to build out their collections. The format is popular in Western countries, especially the US, with the global market expected to grow to $67.86 Bn by 2030. Popular collectibles include LEGOs, Barbies, and Hot Wheels.

With the trend now catching up in India, D2C toymakers have been grabbing investor interest recently, especially with the government’s push to make India a global hub for toys through the ‘National Action Plan for Toys’, tabled during the Union Budget 2025-26.

The scheme will focus on development of clusters, skills, and a manufacturing ecosystem that will create high-quality, unique, innovative, and sustainable toys that will represent the ‘Made in India’ brand.

In recent months, Aditi Toys raised ₹36 Cr (around $3.9 Mn) from Gujarat Venture Finance Limited in March, while Mirana Toys bagged ₹57.5 Cr (around $ 6.4 Mn) in its Series A round in November last year.

The post D2C Toymaker Legend Of Toys Raises ₹21 Cr To Enter New Categories appeared first on Inc42 Media.