Legend of Toys raises Rs 21 Cr in pre-Series A funding round
The startup claims to achieve an annual recurring revenue (ARR) of Rs 30 crore within 18 months of launch and is currently witnessing 20% month-on-month growth.
Legend of Toys has raised Rs 21 crore in a pre-Series A funding round with participation from Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride.
The fresh capital will be used to expand into new play categories, strengthen consumer marketing initiatives, scale digital distribution, enhance manufacturing capabilities, and support international expansion.
Founded in 2024 by Afshaan Siddiqui and Vinay Jaisingh, both ISB alumni, Legend of Toys is a Bengaluru-based character-led toy brand focused on premium hobby and performance-driven products. Its portfolio includes RC Drift Cars, Off-Road RC Trucks, tabletop 1:64 RC Drift Cars, and High-Speed RC Cars priced between Rs 1,599 and Rs 8,799.
The startup is positioning itself in the premium toy segment through a combination of product design, storytelling, collectibility, community-led engagement, and after-sales support. The company has also introduced a free lifetime service model aimed at building long-term consumer trust and improving product ownership experience.
According to the company, it achieved an annual recurring revenue (ARR) of Rs 30 crore within 18 months of launch and is currently witnessing 20% month-on-month growth. It also stated that a significant share of its direct-to-consumer sales operates with positive unit economics.
Legend of Toys follows a full-stack manufacturing and quality-led approach, with all products carrying BIS-compliant certifications and undergoing multiple quality checks before launch. The company said it is also planning expansion into adjacent categories including DIY and collectible play formats.
Commenting on the development, Vinay Jaisingh, Co-founder of Legend of Toys, said,
“We started Legend of Toys with a simple but stubborn belief — that India can build a toy brand the world actually wants to play with. The early response from consumers has been genuinely encouraging, and it tells us the category was ready for something new.”
The funding comes amid rising momentum in India’s toy and children-focused startup ecosystem. Earlier this week, The EleFant raised $1 million in a pre-Series funding round, while toy manufacturing startup BIDSO secured Rs 63 crore in a Series A round led by Blume Ventures earlier this year.
Government data has also highlighted growing domestic momentum in the sector, with India’s toy imports declining by 52% and exports rising 239% between FY15 and FY23.