Legend of Toys raises ₹21 Crore Pre-Series A Round to Build India’s First Premium Play Universe
Legend of Toys, a mass premium Indian toy brand, has raised ₹21 crore in its Pre-Series A funding round, with participation from Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels and Stride. The capital will support the brand’s next phase of growth across new play categories, consumer marketing, digital expansion, manufacturing and international markets.
India’s toy market is undergoing a structural shift, driven by higher import duties, tighter quality standards and a stronger push for domestic manufacturing. Government data shows that India’s toy imports declined by 52% while toy exports rose by 239% between FY2014-15 and FY2022-23, reflecting a broader move from import dependence to local production and global supply. The policy environment has also become more supportive for compliant domestic brands, with toys brought under compulsory BIS certification from January 2021 under the Toys Quality Control Order. This shift is creating room for Indian toy brands that can combine product quality, design, durability and stronger consumer engagement.
Founded by Afshaan Siddiqui and Vinay Jaisingh, both ISB Class of 2017 alumni with operator backgrounds at Livspace, Supertails and Unacademy, Legend of Toys is building high-quality, character-driven toys at the intersection of performance, storytelling and collectibility. The brand’s product lineup spans RC Drift Cars, Off-Road RC Trucks, 1:64 tabletop RC Drift Cars and High-Speed RC Cars, priced between ₹1,599 and ₹8,799.
At the heart of Legend of Toys is a richly imagined universe where every character has a backstory and a role to play. Each product is designed not only as a toy, but as part of a larger narrative that allows children, enthusiasts and collectors to engage with the brand beyond a single purchase. This storytelling-led approach is helping the brand build a deeper emotional connection with its community.
The company has achieved ₹30 crore ARR within 18 months, with a current growth trajectory of 20% month-on-month. The brand has also built strong consumer demand through bestselling SKUs and a high proportion of unit-economics-positive sales through its direct-to-consumer channel, indicating strong brand pull in the market.
Commenting on the announcement, Vinay 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.”
Afshaan Siddiqui, Co-Founder, Legend of Toys, added, “For us, a toy is never just a product. It is a character, a story and an experience. We are building Legend of Toys as a world built on adventure, thrill and excitement — one that kids, enthusiasts and collectors keep coming back to. Our focus remains on great products, real storytelling, strong community and long-term trust as we expand the brand in India and beyond.”
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.”
Karuna Jain, Managing Partner and Founder, Enzia Ventures, said, “India is on the cusp of becoming a global manufacturing powerhouse, and Legend of Toys is going after one of its most overlooked opportunities: building a homegrown toy brand for the Indian kidult. Vinay and Afshaan aren’t just making toys; they’re building trust through a repair-not-replace model that is almost unheard of in this category. That kind of conviction, paired with real operating chops, is rare. We backed them because we believe this is how a category-defining, globally relevant brand gets built out of India.”
The proceeds from the Pre-Series A funding will be deployed across three fronts: expansion into new play categories including DIY and adjacent formats; strengthened sourcing and manufacturing capabilities; and stepped-up investment in consumer marketing and digital presence across India and global markets. The brand will also continue to build its Kidult collector community, an underserved yet high-engagement audience in the Indian toy space.
What sets Legend of Toys apart is its focus on building lasting consumer relationships rather than a purely transactional purchase experience. The brand engages closely with its community and uses real consumer feedback to continuously improve its products and experience. Complementing this is its free Lifetime Service offering, aimed at ensuring that every Legend of Toys product is supported long after purchase and built around durability, trust and after-sales care.
As Legend of Toys enters its next phase of growth, the brand remains focused on building a globally recognised Indian premium play brand, combining design, storytelling, performance, community and long-term product support.
