Legend of Toys, a fast-growing toy brand focused on character-led and high performance RC products, has raised Rs 21 crore in a pre-Series A funding round.
The round saw participation from Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels and Stride.
The company said the fresh capital will be used to expand into new play categories, strengthen consumer marketing, scale digital operations, boost manufacturing capabilities, and enter international markets.
Founded in 2024 by Afshaan Siddiqui and Vinay Jaisingh, Legend of Toys is building a premium toy brand around performance, storytelling and community driven engagement.
Its portfolio currently includes:
- RC Drift Cars
- Off-Road RC Trucks
- 1:64 Tabletop RC Drift Cars
- High-Speed RC Cars
The products are priced between Rs 1,599 and Rs 8,799, targeting consumers looking beyond traditional low-cost toy offerings.
The startup is betting on a growing shift in India’s toy market where parents are increasingly spending on premium, collectible and hobby based toys instead of purely mass market products.
According to government data, India’s toy imports declined by 52% between FY15 and FY23, while exports surged 239% during the same period, reflecting rising domestic manufacturing and stronger local brands.
Legend of Toys said it achieved an annual recurring revenue (ARR) of Rs 30 crore within just 18 months of operations and is currently growing at nearly 20% month-on-month.
The company also claimed that a significant portion of its direct-to-consumer sales is already unit economics positive, a key milestone for consumer startups in the category.
The funding comes amid rising investor interest in India’s children focused and toy startup ecosystem.
Earlier this week, toy subscription startup The EleFant raised $1 million in a pre-Series funding round led by Growth Sense Venture Fund.
In March this year, toy manufacturing startup BIDSO also secured Rs 63 crore in a Series A round led by Blume Ventures.
As India’s consumer market matures, startups like Legend of Toys are now attempting to build aspirational homegrown toy brands that combine product quality, design and fandom-driven experiences a space traditionally dominated by global players.
ED Freezes ₹526 Cr Assets in Gameskraft Money Laundering Probe