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Legend of Toys, the Bengaluru-based startup behind India’s fastest-growing premium RC toy brand, has raised Rs 21 crore in a pre-Series A funding round. The round drew participation from Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride — a strong investor signal for a category that Indian founders have largely left untouched.
Rs 21 Crore Pre-Series A: Who Backed This Round and Why
The Rs 21 crore pre-Series A comes at a defining moment for Legend of Toys. Founded in 2024 by ISB alumni Afshaan Siddiqui and Vinay Jaisingh, the company has already crossed an annualised revenue run-rate of Rs 30 crore — within just 18 months of launch. It is currently growing at 20% month-on-month, a clip that clearly caught the attention of institutional backers.
The funds will go towards entering new play categories, consumer marketing, digital channel expansion, manufacturing improvements, and international market entry. For investors writing cheques at the pre-Series A stage, that’s a focused, capital-efficient roadmap.
Legend of Toys’ RC Product Range, Pricing, and Revenue Traction
Legend of Toys currently sells 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. Products are priced between Rs 1,599 and Rs 8,799, making them accessible to both young buyers and adult collectors — a segment the industry calls “kidults.”
What’s unusual is the storytelling layer baked into each product. Every toy in the Legend of Toys range carries a backstory and fits into a broader character-driven universe. This isn’t just marketing copy. It’s a deliberate strategy to turn one-time buyers into a repeat-purchase community — something few toy brands at this price point attempt.
The company also runs a free Lifetime Service programme. Customers can get their RC toys repaired rather than replaced, a repair-not-replace model that is almost unheard of in the toy category. It’s both a retention tool and a trust signal.
India’s Toy Market Is Shifting — and Startups Are Filling the Gap
The macro tailwind here is hard to ignore. Government data shows toy imports declined 52% while toy exports rose 239% between FY2014-15 and FY2022-23. The Toys Quality Control Order, which brought toys under compulsory BIS certification from January 2021, combined with higher import duties, has effectively cleared the shelf space that cheap, low-quality foreign imports once occupied.
India’s toy market is on a structural reset. Domestic brands that can meet quality standards and build genuine brand equity are now operating in a far less crowded arena. Legend of Toys is entering that window with a premium, character-led product line at exactly the right time.
Funding activity in this space has picked up accordingly. Earlier this week, toy subscription startup The EleFant raised $1 million in a pre-Series round. In March 2026, BIDSO secured Rs 63 crore in a Series A led by Blume Ventures. Across sectors, Series B rounds and hardware-focused raises are both signalling that Indian investors are now moving decisively beyond software. The category is attracting real capital.
What Investors Are Saying About the Legend of Toys Opportunity
The investor commentary around this round is notably specific, which is telling. Gokul Gopal of Veltis Capital called out the founders’ “true founder-market fit” — both are deeply invested in the category personally, not just professionally. Karuna Jain of Enzia Ventures pointed to the repair-not-replace model as a sign of genuine conviction: “That kind of conviction, paired with real operating chops, is rare.”
Vinay Jaisingh put the ambition plainly: “India can build a toy brand the world actually wants to play with.” Afshaan Siddiqui framed it around storytelling: “A toy is never just a product. It is a character, a story, and an experience.”
These aren’t boilerplate founder quotes. They describe a brand architecture that most consumer startups in India don’t even attempt this early. It’s a playbook closer to consumer brand M&A territory than a typical D2C launch.
What Comes Next for India’s Premium RC Toy Brand
With Rs 21 crore in the bank, Legend of Toys is moving on multiple fronts simultaneously — new categories, stronger manufacturing, and international markets. The brand has already validated its direct-to-consumer unit economics in India, which removes one of the bigger risks at the next stage.
The bigger question is whether the character-universe model holds as the product range broadens. If it does, Legend of Toys won’t just be a toy company. It’ll be a franchise.
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