Toytech startup Mirana Toys raises Rs 57.5 crore to scale manufacturing and global expansion

Toytech startup Mirana Toys has raised Rs 57.5 crore in a funding round led by Arkam Ventures. Accel, Info Edge and Riverwalk Holdings also participated in the round.

The startup will use the new capital to set up a manufacturing facility equipped with injection-molding and die-casting machines along with in-house packaging lines. The expansion is aimed at boosting monthly production for both domestic retailers and export markets. It also plans to strengthen its design and sales teams as it prepares for deeper international expansion..

Founded in March 2021 by Devansh Sharma and Ravi Yadav, Mirana Toys designs and manufactures a wide range of technology-led toys. These include AI-enabled robots, AR-enabled remote-control cars, hobby-grade RC vehicles, STEM kits and other educational products.

The startup works as both a contract manufacturer and a creator of its own labels. It runs a vertically integrated system that covers design, electronics, tooling, molding, prototyping, assembly and compliance. This model helps maintain faster timelines and tighter control over quality.

Mirana Toys claims that its products are available in more than 3,000 stores across India, including Hamleys, Toys R Us and Lulu Mall. It also sells on ecommerce and quick-commerce platforms.

India’s tech-toy market is valued at $2.14 billion in 2024 and is shifting from imports to locally designed products. Mirana said the market is expected to reach 6.95 billion dollars by 2034, growing at an annual rate of 12.5%.

Commenting on the investment, Arkam Ventures managing director Bala Srinivasa, 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.”