Legend of Toys, a Bengaluru-based D2C toy brand selling story-led RC cars and collectible play products, has raised ₹21 crore in a pre-Series A round. The Legend of Toys funding news matters because most mass-market RC toys are still built like disposable impulse buys, while this company is trying to make them serviceable, collectible, and sticky enough to create repeat demand. Founded in 2024 by Afshaan Siddiqui and Vinay Jaisingh, the startup has already hit a ₹30 crore annualised run rate in just 18 months.
Singularity Early Opportunities Fund led the round, with Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride joining in. The money is meant to deepen its RC and narrative-play lines. It also plans to add new categories like DIY, strengthen sourcing and manufacturing, spend more on consumer marketing, and build international distribution and digital reach.
What does Legend of Toys actually sell?
Legend of Toys sells ready-to-run remote-control vehicles and adjacent play products through its own online storefront, with a heavy push on RC drift cars, tabletop 1:64 scale RC cars, off-road models, and construction toys. The customer journey is simple on purpose: pick a model, unbox it, do minimal setup, and start driving. Most products are built as RTR units, so buyers don’t need hobby-grade know-how just to get started.
Where it gets more interesting is the layer on top of the hardware. The company doesn’t just sell a car and move on. It also sells spare wheels, shells, batteries, and other replacement parts. It supports product servicing after purchase. That’s a big shift from the usual toy-grade RC experience, where a broken part often means the whole thing is done.
Its products sit in a middle lane between cheap toy-grade RC and full hobby-grade kits. Afshaan Siddiqui has described the category as “semi-hobby grade,” with better durability, higher speeds, and some customization without the complexity or cost of enthusiast-level RC. On the site, the Ghost model is positioned with features like 4×4 drive, speed modes, front and rear LEDs, and underglow lighting. That tells you the brand is chasing performance and display value at the same time.
And then there’s the story angle. Every product is meant to be a character inside the L.O.T Universe, and the company’s LinkedIn material says an Issue 1 comic ships in print and also lives online in digital form. That’s clever. It turns a one-time toy purchase into something closer to fandom.
Who started Legend of Toys and why?
Founding story
Legend of Toys was founded in 2024 by Afshaan Siddiqui and Vinay Jaisingh. The brand started as a passion project in a garage and grew around a simple idea: toys should feel fast, durable, and full of character, not generic. Bengaluru is the company’s base, and the founders built the brand around the belief that Indian buyers shouldn’t have to rely only on imported imagination or imported brands for aspirational play.
Founder market fit
The two founders are ISB alumni, and a recent profile says they first met there before starting the company together. Their background isn’t classic old-school toy manufacturing pedigree. It’s more consumer-internet and brand-building experience, with prior work across companies like Livspace, Supertails, and Unacademy. That mix matters because Legend of Toys isn’t only selling plastic and motors. It’s selling brand affinity, community, and repeat purchase behavior.
Traction and fundraising
Early numbers are strong enough to explain why investors paid attention. Legend of Toys reached a ₹30 crore annualised run rate within 18 months and has been growing 20% month on month. It also says a solid share of D2C sales are already unit-economics positive, which is a much better signal than vanity GMV. A recent founder post also showed the company has grown to a 19-person team.
The Legend of Toys funding round itself came in at ₹21 crore, or about $2.2 million, at the pre-Series A stage. Singularity Early Opportunities Fund led it, and Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride joined in. The company’s current catalog includes RC drift cars and high-speed RC cars. It also sells off-road RC trucks, with prices broadly in the ₹1,799 to ₹8,799 range.
Competition and positioning
This isn’t an empty category. In India, Aditi Toys raised ₹36 crore from GVFL in March 2026 to push product development and manufacturing, while Mirana Toys raised ₹57.5 crore in Series A in November 2025 to expand production of smart, educational, and RC-linked toy products. Capital is clearly flowing into the broader toy buildout story.
But Legend of Toys is taking a narrower angle than those companies. It’s leaning hard into premium RC, collectors, and “kidult” demand, while mixing in storytelling and long-tail after-sales support. Legacy alternatives are still obvious — Hot Wheels, LEGO, Barbie, hobby-grade RC imports, and the usual low-service toy-grade products sold online. Investors are backing a more branded bet: if you can make the toy repairable, collectible, and part of a narrative universe, repeat revenue gets a lot easier to imagine.
Why does Legend of Toys funding matter now?
This round gives the company room to do the expensive bits that a toy startup can’t fake for long. Building deeper RC lines is one thing. Holding spare parts, expanding service, tightening sourcing, and investing in manufacturing are much harder. They eat cash before they improve the customer experience.
It also gives Legend of Toys a shot at becoming more than an RC niche seller. The plan to move into DIY and other play categories suggests the founders want a wider house of products, not a single-hit vehicle brand. The digital expansion piece matters too. The narrative side of the business only works if the characters keep showing up beyond the box.
There’s another reason this matters. A “repair-not-replace” promise sounds great in a pitch deck, but it can wreck margins if the backend isn’t built properly. Fresh capital gives Legend of Toys a better chance of making service an actual moat instead of a cost center that breaks the model. That’s the most serious part of this bet.
How big is the market for kidult and D2C toys?
The timing isn’t random. IMARC estimates India’s toy market was worth $1.9 billion in 2024 and could reach about $4.7 billion by 2033. That’s a real expansion curve, not a niche blip.
The “kidult” angle gives the company an even more specific demand pocket to chase. Adult collectors already spend heavily on brands like LEGO, Barbie, and Hot Wheels, and the broader kidult toy market is expected to reach $67.86 billion by 2030. If that behavior keeps localizing in India, a premium homegrown brand has a clearer lane than it would have a few years ago.
Policy has shifted too. On February 1, 2025, the Union Budget for FY 2025-26 proposed a National Action Plan for Toys to help make India a global toy hub, with focus areas spanning clusters, skills, and manufacturing. Government data already shows why investors like this theme. Toy imports fell 52% and exports rose 239% in FY 2022-23 compared with FY 2014-15.
What should Legend of Toys watch next?
After this Legend of Toys funding round, the test isn’t whether it can sell more RC cars. It’s whether it can turn that first purchase into a collecting habit and make after-sales service feel like part of the brand, not a support burden. If the company can do that while expanding into new categories and overseas markets, it won’t just be another D2C toy startup.
Read how Rapido raised $240M from Prosus, WestBridge Capital, and Accel to expand its multimodal ride-hailing platform across India with bikes, autos, cabs, and metro integrations.
FAQ
– What is the latest Legend of Toys funding round?
Legend of Toys has raised ₹21 crore in a pre-Series A round. Singularity Early Opportunities Fund led the deal, and Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride also participated. The company plans to use the money for new categories, manufacturing, marketing, and international expansion.
– How does Legend of Toys work as a toy brand?
It works like a D2C RC and collectible toy brand with an extra layer of service and story. Customers buy mostly ready-to-run products online, can order spare parts like wheels and batteries, and also get access to a broader character universe that extends into printed and digital comics.
– What is the founder background of Legend of Toys?
The company was started in 2024 by Afshaan Siddiqui and Vinay Jaisingh, who are ISB alumni. Between them, they’ve worked at consumer and startup brands including Livspace, Supertails, and Unacademy, which helps explain why Legend of Toys feels as much like a brand play as a product play.
– Why are investors interested in D2C toy brands in India?
Investors are interested because the category has both policy support and improving industry economics. India’s toy market is projected to grow to about $4.7 billion by 2033, the government has pushed a National Action Plan for Toys since the February 1, 2025 budget cycle, and official data shows imports are down while exports have risen sharply over the last several years.
