Toy-tech startup Mirana Toys has secured Rs 57.5 crore in a new funding round led by early-stage venture capital firm Arkam Ventures. Additionally, Accel, Info Edge, and Riverwalk Holdings participated in the round.
Moreover, the company plans to use the fresh capital to set up a new manufacturing facility and establish its own packaging lines. It also aims to ramp up monthly production for both domestic and international markets. Furthermore, the startup intends to strengthen its design and sales teams to accelerate its expansion in global markets.
Founded in March 2021 by Devansh Sharma and Ravi Yadav, Mirana Toys designs and manufactures a diverse range of toys, including AI-enabled robots, AR-enabled remote-control (RC) cars, hobby-grade RC vehicles, STEM kits, and educational toys. The company also serves as a contract manufacturer while running its own product labels.
In addition, the company expects B2B sales to emerge as its biggest revenue driver within the next two years. Mirana Toys also maintains partnerships with Indian automobile brands for licensed toys and has built a strong pipeline of orders from the US and Europe. Notably, exports to the US already make up about 40% of its overall demand.
Furthermore, the company distributes its products across more than 3,000 stores in India, including major retailers like Hamleys, Toys ‘R’ Us, and Lulu Mall, while also selling through e-commerce and quick-commerce platforms.
Mirana Toys says it has reached over one million children so far.
Meanwhile, India’s tech toy market—valued at $2.14 billion in 2024—is shifting from imports to homegrown innovation. It is projected to reach $6.95 billion by 2034, growing at an annual rate of 12.5%, the company added.
Commenting on the investment, Bala Srinivasa, managing director, Arkam Ventures, said, “Mirana will be able to take advantage of massive structural shifts in global toy supply chains. Unlike typical contract manufacturers, Mirana controls every critical stage—from design and tooling to electronics and assembly—allowing faster iteration, better sourcing control, and shorter lead times.”
