The EleFant bags $1 Mn pre-Series funding led by Growth Sense Venture Fund
The startup’s earlier seed funding of ₹6.28 crore (around $750K) raised from Malpani Ventures and Venture Catalysts.
Toy and book subscription startup The EleFant has raised $1 million in a pre-Series funding round led by Growth Sense Venture Fund, with participation from JIIF, Arian Capital, Asit Oberoi, Vimal Saboo, and other angel investors.
The startup said the fresh capital will be deployed to strengthen its technology infrastructure, optimise supply chain operations, and expand its footprint across key markets.
The latest round follows the startup’s earlier seed funding of ₹6.28 crore (around $750K) raised from Malpani Ventures and Venture Catalysts to support its initial expansion and platform development.
Founded by Sourabh Jain and Srishti Jain in 2023, The EleFant operates a subscription-based toy and book rental platform for children aged between 0 and 12 years.
The Mumbai-based startup follows a circular “Discover-Play-Return” model that allows families to subscribe to toys and books through monthly plans starting at Rs 599. Users can browse products through the platform’s mobile app, return items after use, and rotate new selections based on a child’s interests and age group.
The EleFant currently offers a catalogue of more than 1,000 toys and books sourced from over 90 domestic and global brands. The company claims to operate across 18 Indian cities through a Franchise-Invested, Company-Operated (FICO) model supported by more than 125 franchise partners.
The startup is also building a community-driven distribution network by enabling local women entrepreneurs to operate as neighbourhood “librarians” managing inventory and facilitating toy exchanges.
The EleFant plans to scale beyond 50,000 subscribers and expand operations to over 20 cities over the next 12 months.