Legend of Toys Raises ₹21 Cr for Premium Play Universe

Bengaluru-based direct-to-consumer toy innovator, Legend of Toys, has successfully closed a ₹21 crore Pre-Series A funding round. This significant capital injection is earmarked for the development of what the company terms India's inaugural premium play universe. The funding round saw robust participation from a consortium of investors including Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride. This achievement follows an impressive 18-month period where the company surpassed ₹30 crore in annualized revenue, demonstrating a remarkable 20% month-on-month growth trajectory.

The infusion of capital arrives at a transformative juncture for the Indian toy sector. Government statistics highlight a substantial shift, with toy imports decreasing by 52% and exports soaring by 239% between FY2014-15 and FY2022-23. This trend underscores a national pivot towards bolstering domestic manufacturing and enhancing global supply capabilities. Furthermore, the regulatory environment has become increasingly favorable for compliant Indian toy manufacturers since January 2021, when the Toys Quality Control Order mandated Bureau of Indian Standards (BIS) certification.

Founded in January 2024 by Afshaan Siddiqui and Vinay Jaisingh, both alumni of the Indian School of Business, Legend of Toys operates under Fraternitas Ventures Private Limited. Leveraging their prior operational expertise from prominent companies like Livspace, Supertails, and Unacademy, the co-founders are strategically positioning the brand at the nexus of product performance, compelling narratives, and collectibility. Their current product portfolio features a range of RC vehicles, including Drift Cars and Off-Road Trucks, with prices spanning from ₹1,599 to ₹8,799.

Prior to this Pre-Series A round, Legend of Toys had secured approximately $1.79 million across two earlier seed funding stages. This included a $1.37 million seed round in April 2025, valuing the company at $8.37 million post-money, and a $418,000 round in September 2024. Previous institutional backers and angel investors contributing to the company's growth include Z47, Angel List, Singularity AMC, India Accelerator, Incrementum Ventures, Skatrs Management Advisory, and notable angel investors such as Ramakant Sharma, Arjun Vaidya, and Vasudev Jaising.

The newly acquired funds will be strategically allocated across three core areas. Firstly, Legend of Toys plans to expand into new product categories, incorporating DIY and related formats. Secondly, the company will focus on enhancing its sourcing and manufacturing infrastructure to support scaled operations. Thirdly, significant investment will be directed towards bolstering consumer marketing initiatives and expanding its digital footprint both domestically and internationally. A key strategic focus will also be placed on deepening engagement with the 'Kidult' collector community, an audience identified as both underserved and highly engaged within the Indian toy market.

Vinay Jaisingh, Co-Founder, expressed optimism about the company's mission: "We founded Legend of Toys with a clear vision – to establish an Indian toy brand that resonates globally. The enthusiastic consumer response validates our approach, and we are now poised to broaden our product lines, fortify our manufacturing base, and build a sustainable enterprise." Echoing this sentiment, Co-Founder Afshaan Siddiqui emphasized the brand's philosophy: "We view each toy as more than a mere product; it's a gateway to adventure and excitement. Our strategy centers on delivering exceptional products, authentic storytelling, fostering a strong community, and building enduring trust as we scale the brand."

Investors highlighted the company's unique approach. Gokul Gopal, Managing Partner at Veltis Capital, noted the founders' deep passion and operational acumen, stating, "Legend of Toys has the potential to evolve into a major global toy brand originating from India." Karuna Jain, Managing Partner and Founder of Enzia Ventures, pointed to the innovative 'repair-not-replace' after-sales service as a significant differentiator, adding, "This commitment to trust, combined with strong operational capabilities, is how category-defining brands are built." This customer-centric philosophy, including a free Lifetime Service offering, underpins the brand's focus on durability and long-term customer relationships.