Legend of Toys is a toy company that is characterized by innovation based on characters. Legend of Toys has raised ₹21 crore in its pre-Series A funding round. Rounding materialized with wide participation from a diversified group of prominent institutional and angel participants, including Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride. This round is a testament to the investor demand for home-grown toys that focus on design, performance, and storytelling premiums.
Capital utilization and current portfolio
The company has given a clear pathway on how the newly acquired ₹21 crore will be deployed. The funds raised will be used mainly for entering new play categories and extending its current product offering, the brand said in its statement.
Legend of Toys aims to invest heavily in consumer marketing and digital expansion, boosting brand visibility on online platforms. The capital, apart from the digital transformation, will also be used for enhancing the production facilities in India and allowing the brand to penetrate foreign markets. Such an approach is essential for the realization of the firm’s plans to become the market leader within the international premium toy market.
Founded in 2024 by Afshaan Siddiqui and Vinay Jaisingh, Legend of Toys is distinguished by a focus on developing more characterful and high-performance products that would cater to modern collectors and enthusiasts. The product portfolio of the company consists of 1:64 Tabletop RC Drift Cars, High-Speed RC Cars, Small-Round RC Trucks, RC Drift Cars, and Off-Road RC Trucks.
The products are offered in the company’s premium line at prices starting from ₹1,599 to ₹8,799. Focusing on customer support and community-building, the company seeks to establish a loyal consumer base that is interested in both the functional and narrative aspects of the products.
Growth and financial performance
From its inception, Legend of Toys has been showing strong financial momentum and has claimed to have created an Annualized Revenue Run rate (ARR) of ₹30 crore in just 18 months of startup operations. The firm presently operates at a healthy month-on-month growth level of 20%, reflecting the positive demand for its narrowly focused product.
A key part of its business model is the direct-to-consumer (D2C) segment, where estimates suggest it has performed unit economics positively. This drive for profitability and sustainable growth has played a crucial role in securing the best investors at this pre-Series A level.
The development of Legend of Toys coincides with a structural transformation occurring in the Indian toy industry. Statistically, there is a huge trade imbalance, as exports have grown by 239% and imports have dropped by 52% from FY 2014-15 to FY22-23.
With a strong focus on local manufacturing and design, Legend of Toys is well-equipped to take advantage of this “Make in India” trend. As part of this growing list of highly funded companies focused on children, the company also comprises a subscription-based toy company called The Elefant as well as a manufacturing-based startup company called BIDSO, which was able to raise ₹63 crore through its own Series A round of funding.
Conclusion
The success of the Legend of Toys’ fundraising process of ₹21 crore reflects how mature the Indian toy market is becoming, along with the potential for creating niche brands in this market segment. As an investment from reputable firms like Singularity and Enzia Ventures, Legend of Toys is expected to leverage its monthly growth and move into other geographies. The success of Legend of Toys has established a new benchmark for the ideas and designs of Indian startups to carve out a space in the global play and entertainment market.
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