Legend of Toys Secures Pre-Series A Funding for Expansion

Indian premium toy startup Legend of Toys has raised Rs 21 crore in a pre-Series A funding round led by multiple investors including Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride.

The startup plans to use the fresh capital to expand into new play categories, strengthen consumer marketing, improve manufacturing capabilities, scale digital operations, and explore international markets.

Building a Story-Driven Premium Toy Brand

Founded by Afshaan Siddiqui and Vinay Jaisingh, both alumni of the Indian School of Business Class of 2017, the company focuses on premium remote-controlled vehicle toys for children, hobbyists, and collectors.

Before launching the startup, the founders worked at major consumer and technology companies including Livspace, Supertails, and Unacademy.

Legend of Toys currently offers a variety of remote-controlled products such as RC Drift Cars, Off-Road RC Trucks, tabletop RC Drift Cars, and High-Speed RC Cars.

What differentiates the company from traditional toy brands is its storytelling-driven approach. According to the startup, every product is designed as part of a larger fictional universe where each toy has its own character, backstory, and role within an ongoing narrative.

The founders believe this approach helps create long-term customer engagement and builds a loyal community instead of focusing only on one-time purchases.

Repair-Not-Replace Model Gains Attention

One of the startup’s unique offerings is its free Lifetime Service programme, allowing customers to repair toys instead of replacing them. This repair-focused model is relatively uncommon in the toy industry and aligns with growing consumer demand for durable and sustainable products.

The company claims to have achieved an annualised revenue run-rate (ARR) of Rs 30 crore while growing at nearly 20% month-on-month.

Co-founder Vinay Jaisingh said the startup was built with the vision of creating an Indian toy brand capable of competing globally through quality products, strong manufacturing, and immersive storytelling.

India’s Toy Industry Creating New Opportunities

India’s toy industry has witnessed major changes in recent years due to government initiatives promoting domestic manufacturing. According to government data, toy imports declined by 52% while exports increased by 239% between FY14-15 and FY22-23.

Industry experts believe stricter BIS certification norms and higher import duties have created favorable conditions for high-quality Indian toy brands.

Investors backing Legend of Toys say the founders combine deep passion for the category with strong operational expertise, positioning the company to become a globally recognized toy brand built from India.

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