India’s toy industry is witnessing a significant transformation, driven by rising domestic manufacturing, evolving consumer preferences, and increasing demand for high-quality, story-driven products. Amid this shift, emerging direct-to-consumer brands are beginning to redefine how toys are designed, marketed, and experienced.
One such player is Legend of Toys, which has raised ₹21 crore in a Pre-Series A funding round to accelerate its vision of building India’s first premium play universe.
The funding round saw participation from Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride.
The fresh capital will support the company’s expansion into new product categories, strengthen manufacturing capabilities, scale consumer marketing efforts, and support international growth initiatives.
Riding India’s Growing Toy Manufacturing Opportunity
India’s toy sector has undergone a structural shift in recent years, aided by government initiatives promoting domestic manufacturing and stricter quality controls.
According to government data referenced by the company:
- Toy imports declined by 52%
- Toy exports increased by 239% between FY2014-15 and FY2022-23
The implementation of mandatory BIS certification under the Toys Quality Control Order in January 2021 has further encouraged the growth of compliant domestic brands capable of delivering higher-quality products.
This evolving landscape has created opportunities for Indian brands focused on:
- Product innovation
- Quality manufacturing
- Brand storytelling
- Consumer engagement
- Global scalability
Legend of Toys is positioning itself at the intersection of these trends.
Building More Than Toys — Creating a Play Universe
Founded by Afshaan Siddiqui and Vinay Jaisingh, both alumni of the Indian School of Business Class of 2017, the company is focused on building a character-driven premium toy brand.
Before launching the venture, the founders held operational roles at companies including Livspace, Supertails, and Unacademy.
Unlike conventional toy companies that primarily focus on product functionality, Legend of Toys is building an ecosystem centered around storytelling, collectibility, and immersive consumer experiences.
Its current product portfolio includes:
- RC Drift Cars
- Off-Road RC Trucks
- 1:64 Tabletop RC Drift Cars
- High-Speed RC Cars
The products are priced between ₹1,599 and ₹8,799, targeting both children and the growing “kidult” collector community.
Storytelling as a Core Differentiator
At the heart of the company’s strategy is the idea that every product should feel like part of a larger fictional universe.
Each toy is designed with:
- Character backstories
- Adventure-driven narratives
- Collectible elements
- Community engagement opportunities
This storytelling-led approach is helping the brand create stronger emotional connections with consumers while encouraging repeat engagement beyond a single purchase.
The company believes that toys today are increasingly becoming lifestyle and fandom products rather than purely functional play items.
Rapid Growth in Just 18 Months
Despite being a relatively young company, Legend of Toys claims to have achieved:
- ₹30 crore ARR within 18 months
- 20% month-on-month growth
- Strong traction through direct-to-consumer sales channels
The company also highlighted that a significant portion of its D2C sales are already unit-economics positive, suggesting healthy consumer demand and efficient customer acquisition.
This early traction reflects the growing appetite among Indian consumers for premium and differentiated toy experiences.
A Focus on Long-Term Consumer Relationships
One of the company’s notable differentiators is its emphasis on after-sales support and customer trust.
Legend of Toys offers a free Lifetime Service program, which focuses on:
- Product durability
- Repairs and maintenance
- Long-term consumer support
This “repair-not-replace” approach is relatively uncommon in the toy industry and is aimed at building lasting relationships with consumers rather than encouraging short product replacement cycles.
The company also actively incorporates community feedback into product development and experience improvements.
Expanding Categories and Global Ambitions
The newly raised capital will be deployed across multiple growth initiatives, including:
- Expansion into DIY and adjacent play categories
- Scaling manufacturing and sourcing operations
- Strengthening consumer marketing
- Building digital presence across India and global markets
- Growing its kidult collector community
The startup also aims to position itself as a globally recognized Indian toy brand capable of competing in international markets.
Investors See Potential for a Global Indian Toy Brand
Investors backing the company believe India is entering a new phase where domestic consumer brands can emerge as global category leaders.
Gokul Gopal noted that the founders demonstrate strong founder-market fit, with deep passion for toys, product quality, and manufacturing.
Meanwhile, Karuna Jain highlighted the company’s unique repair-focused consumer model and its potential to build a globally relevant brand from India.
The Rise of India’s Premium Toy Ecosystem
India’s toy market is increasingly moving beyond low-cost imports and generic products toward:
- Premium positioning
- Local design innovation
- Licensed and story-driven products
- Higher-quality manufacturing
- Collector-focused categories
At the same time, the rise of D2C commerce and digital communities is enabling brands to build deeper relationships with niche consumer audiences.
Legend of Toys appears to be leveraging these trends by combining manufacturing, storytelling, product performance, and community engagement into a unified brand strategy.
Looking Ahead
As India’s toy industry matures, brands that can combine quality manufacturing with emotional consumer engagement are likely to stand out in an increasingly competitive market.
With strong early traction, a growing collector community, and fresh funding in place, Legend of Toys is now positioning itself to expand beyond India and build a globally recognized premium play brand.
Its journey also reflects a broader shift in India’s consumer startup ecosystem where homegrown brands are no longer just competing on price, but increasingly on design, storytelling, experience, and long-term brand loyalty.
By : Vanshika Tayal
