Private Equity

PE-VC Fund Investments

Mirana Toys raises Rs.57.5 Cr from Arkam Ventures, others

Economic Times   Mirana Toys   Mirana Toys  

Pune-based Mirana Toys has raised INR 57.5 crore in a funding round led by early-stage venture capital firm Arkam Ventures. The round also saw participation from Accel, Info Edge, and Riverwalk Holdings.Founded in March 2021 by Devansh Sharma and Ravi Yadav, Mirana Toys manufactures a range of toys, including AI-enabled robots, AR-enabled remote control cars, hobby-grade vehicles, STEM kits, and educational toys. Its products are claimed to be available in over 3,000 stores across India, including Hamleys, Toys ‘R’ Us, and Lulu Mall, and are also sold through e-commerce and quick-commerce platforms.The new funds will be used to set up a new manufacturing facility and proprietary packaging lines and to increase monthly production. Mirana also plans to strengthen its design and sales teams to facilitate global expansion.

Between May 2022 and Sep 2024, Mirana Toys had attracted about USD 8 M from Accel India, Info Edge, Riverwalk Holdings and others.For FY24, Mirana Toys had reported about INR 17 Cr in Operating Income and about INR 12 Cr in Net Loss.