Angel Investments
Toy lending service EleFant raises $750-K
Mumbai-based EleFant , a mobile app-based “toy library” has raised INR 6 crore (about USD 750,000) in its seed round co-led by Venture Catalysts, Malpani Ventures with participation from several other investors, including Sudhakar Pai, (MD, Kurlon Industries), Jyothi Pradhan (CEO - Kurlon) Family Office, Agre Global FZE, Growth 91/Growth Sense, IVY Growth, SiriusOne Capital.The new funds will be used to optimise its supply chain, reducing delivery times and costs, while also investing in data analytics to better serve its customers.Founded by Sourabh Jain, EleFant offers toys and books for children aged 0-12 years, sourced from over 70 brands with over 600 options. It claims to have over 13,000 registered users and 1000 fully paid subscribers in less than 10 months since its launch.
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