Mirana Toys raises ₹57.5 crore Series A funding to scale production

Mirana Toys has secured ₹57.5 crore in Series A funding to set up a new factory, expand design and sales teams and meet rising domestic and global demand for smart and educational toys

Mirana Toys, a vertically integrated toy-tech start-up, has raised ₹57.5 crore in Series A funding led by Arkam Ventures, with participation from Accel, Info Edge and Riverwalk Holdings. The funds will be used to set up a new factory, including the installation of injection-moulding and die-casting machines, along with in-house packaging lines. These initiatives will help the company increase monthly production to meet growing domestic and export demand. In addition, Mirana plans to expand its design and sales teams to accelerate international growth.

 

As global brands diversify supply chains under the China-plus-one strategy, India is fast emerging as a global manufacturing hub. Mirana said it is well placed to lead this shift through its Make in India ecosystem that brings together design, electronics, tooling and assembly under one roof to manufacture smart and educational toys for customers worldwide. The funding also comes at a time when India’s own toy industry is entering a high-growth phase.

 

 

“India is at the cusp of becoming a global toy manufacturing hub. At Mirana, we are proud to show that Indian original equipment manufacturers can match global benchmarks on cost, quality and compliance while offering greater flexibility and customisation to partners,” said Devansh Sharma, co-founder and chief executive officer, Mirana Toys. “With this funding, we will scale our infrastructure and technology to meet growing global demand.”

 

Founded in March 2021 by Devansh Sharma and Ravi Yadav, Mirana Toys designs and manufactures a wide range of smart toys, including AI-enabled robots, augmented reality-enabled remote-controlled cars, hobby-grade remote-controlled vehicles, STEM kits such as Block Rider and Build Your Own RC, and educational toys like Moonwalker and Talking Kitty. It provides end-to-end solutions from 3D design and prototyping to tooling, moulding, printed circuit board assembly, electronics integration and final assembly, supported by in-house quality control at every stage of production.

 

In the next two years, Mirana expects its business-to-business vertical to emerge as the largest revenue contributor, supported by rising domestic and international demand. The firm has solidified partnerships with Indian automobile brands for licensed toys and has a strong pipeline of orders from the US and Europe. Exports to the US alone currently account for around 40 per cent of total demand. The company is also in advanced discussions with distributors in the Middle East and Africa to strengthen its export network.

 

“Mirana is uniquely positioned to take advantage of massive structural shifts in global toy supply chains,” said Bala Srinivasa, managing director, Arkam Ventures. “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. This enables high-quality, volume shipments that attract global customers.”

 

The Indian market is also moving from import dependence to domestic innovation, with the country’s tech toys segment valued at $2.14 billion in 2024 and projected to reach $6.95 billion by 2034, growing at a compound annual growth rate of 12.5 per cent.

 

Mirana’s products are available in more than 3,000 stores across India, including Hamleys, Toys “R” Us and Lulu Mall, as well as on e-commerce and quick-commerce platforms such as Amazon India, Amazon US, Flipkart, Swiggy Instamart and Blinkit. Today, more than 1 million children worldwide play with Mirana Toys.