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Strengthening its growth ambitions in India’s premium toy market, Legend of Toys has secured ₹21 crore in a Pre-Series A funding round backed by Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride.
The company plans to utilise the newly raised funds to diversify into additional play categories, enhance its manufacturing and sourcing network, scale consumer marketing initiatives, and accelerate its international expansion strategy.
Founded by Afshaan Siddiqui and Vinay Jaisingh, both alumni of the Indian School of Business, the brand operates in the premium toy category with offerings such as RC Drift Cars, Off-Road RC Trucks, 1:64 tabletop RC Drift Cars, and High-Speed RC Cars. Its products are priced between ₹1,599 and ₹8,799.
According to the company, it has reached an annual recurring revenue (ARR) of ₹30 crore within just 18 months of launch and is currently witnessing 20 percent month-on-month growth through its direct-to-consumer channel.
The brand differentiates itself through a storytelling-driven approach, developing toys around character-based narratives and collectible experiences aimed at children, hobbyists, and the expanding “kidult” collector community in India.
The investment comes amid growing momentum in India’s domestic toy manufacturing sector, supported by government-led policy measures. The company highlighted that toy imports into the country fell by 52 percent, while exports surged by 239 percent between FY2014-15 and FY2022-23, aided by increased import duties, tighter quality norms, and mandatory BIS certification introduced under the Toys Quality Control Order in January 2021.
Commenting on the development, Jaisingh, Co-Founder, 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. Now we get to do the fun part: expand into new categories, strengthen manufacturing, and build the kind of company that can go the distance.”
Gokul Gopal, Managing Partner, Veltis Capital, said, “It’s been a privilege to watch the partnership between Legend of Toys and Veltis Capital over the last year. Afshaan and Vinay embody true founder-market fit — deeply passionate about toys and cars, obsessive about quality and building with real depth across product, manufacturing and brand. We are incredibly excited about what lies ahead and believe Legend of Toys has the potential to become a large global toy brand built from India, creating world-class products for children and collectors.”
With the newly secured capital, Legend of Toys aims to broaden its portfolio by entering categories such as DIY and other adjacent play segments, while simultaneously expanding its manufacturing capabilities and strengthening its digital footprint across domestic and international markets.
The company also continues to focus on customer engagement through its complimentary Lifetime Service programme, which provides after-sales assistance and product maintenance support. According to the brand, the initiative is designed to enhance customer loyalty and foster long-term consumer relationships.
