Mobile app-based toy library EleFant raises $750,000 in a Seed round led by Venture Catalysts, Malpani Ventures, others

Mumbai-based EleFant, a mobile app-based toy library, has raised Rs 6 crore in a seed funding round co-led by Venture Catalysts and Malpani Ventures.

The round also saw participation from several notable investors and family offices.

Key investors included Sudhakar Pai, MD of Kurlon Industries, Jyothi Pradhan, CEO of Kurlon Family Office, Agre Global FZE, Growth 91/Growth Sense, IVY Growth, and Serious One Capital.

What does EleFant od?

Founded in 2023 by Sourabh Jain, EleFant aims to revolutionize how India interacts with toys and play, offering a vast selection of toys and books for children aged 0-12 years.

With over 600 options from more than 70 top brands, the startup provides a diverse range of choices for its users. It claims to have garnered over 13,000 registered users and 1,000 fully paid subscribers.

Focused on reducing delivery times and costs

EleFant will use the capital raised to optimize its supply chain and reduce delivery times and costs. Additionally, the startup plans to invest in data analytics to better understand and serve its customers. 

The startup employs an innovative Librarian Model, empowering home-based women entrepreneurs. 

Currently, with over 52 Librarian centres across India, these librarians manage toy inventory and facilitate exchanges within their communities, earning a fixed income while promoting sustainable play and becoming brand ambassadors.