Legend of Toys, an Indian toy brand focused on remote-controlled vehicles, has raised Rs 21 crore in a pre-Series A funding round from Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride. The startup will use the raised capital towards entering new play categories, consumer marketing, digital expansion, manufacturing improvements, and international market entry.

The startup said that each of its products is part of a larger character-driven universe where every toy has a backstory and a role within a broader narrative. The idea is to give children, enthusiasts, and collectors a reason to engage with the brand beyond a single purchase, building what the company describes as a community rather than just a customer base. It also offers a free Lifetime Service programme, which means customers can get their products repaired rather than having to replace them. Legend of Toys claims to have reached an annualised revenue run-rate (ARR) of Rs 30 crore and is currently growing at 20% month on month.

"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," said Vinay Jaisingh.

Government data shows that toy imports declined by 52% while toy exports rose by 239% between FY14-15 and FY22-23. Tighter quality standards under the Toys Quality Control Order, which brought toys under compulsory BIS certification from January 2021, along with higher import duties, have together created more room for domestic brands that meet quality requirements.

About Legend of Toys

Legend of Toys has been founded by Afshaan Siddiqui and Vinay Jaisingh, both ISB Class of 2017 alumni with prior operator experience at companies including Livspace, Supertails, and Unacademy. It currently offers a range of remote-controlled vehicles including RC Drift Cars, Off-Road RC Trucks, 1:64 tabletop RC Drift Cars, and High-Speed RC Cars.