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Story of India's Toy Industry: On the Verge of Massive Expansion

StartupTalkyStartupTalky · 1y ago
Story of India's Toy Industry: On the Verge of Massive Expansion
Medial

The Indian toy industry is set to become a major player in the global market, with forecasts predicting it to reach $3 billion by 2028. The government has implemented various initiatives to support the growth of the industry, including higher import tariffs and quality control measures. These efforts have resulted in a significant increase in exports and an improvement in the overall quality of toys in the domestic market. To further compete with countries like China and Vietnam, the industry needs to focus on technological advancements, e-commerce, brand-building, and collaboration with local artisans. The success of the Indian toy industry showcases the country's potential in the international market.

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Toy marketplace Snooplay raises pre- Series A1 round led by Pravek Family Office

EntrackrEntrackr · 14d ago
Toy marketplace Snooplay raises pre- Series A1 round led by Pravek Family Office
Medial

Toy marketplace Snooplay raises pre-Series A1 round led by Pravek Family Office Toy marketplace Snooplay has raised Rs 8 crore in a pre-Series A1 funding round led by Pravek Family Office along with participation from other strategic angel investors. Prior to this, the Noida-based company had raised $535K in a seed funding round from Ajay Kumar Gupta and others. The proceeds will be utilized to launch its two proprietary innovative tech products that aim to transform how India discovers, buys, and recirculates toys - through AI, data, and empathy, Snooplay said in a press release. Co-founded in 2019 by Aanchal Mahajan and Brij Raj Singh, Snooplay builds a full-stack, AI-powered toy platform that integrates discovery, purchase, and guilt-free disposal into one seamless ecosystem. The company’s proprietary Toy Intelligence Database—an industry-first effort to map toys to developmental skills, moods, play types, and learning goals. “We are building India’s only toy app that’s serious about play. An app that helps you discover and buy the right toy when your child needs it and lets you trade it in for store credits once they’ve outgrown it. No clutter, no guilt. Just a smarter way to play,” said Aanchal Mahajan, co-founder, Snooplay. Snooplay claims that it houses over 35,000 toys from more than 600 brands, and serves a growing community of Indian parents, collectors and gift-givers. The platform aims to create a single, intelligent loop of smarter discovery and guilt-free exit - making Snooplay the first App in India to build infrastructure around play. Snooplay intends to expand its buyback program in collaboration with NGOs, enabling sustainable toy donations and encouraging conscious consumption. The brand will strengthen its private label offerings across modern retail outlets, e-commerce marketplaces, and curated gifting verticals, while also enhancing its technology, logistics, and operational backbone. The other prominent companies in the toy industry include Funskool, Mattel Toys (India), Simba Toys India, Hamleys (India), Hasbro India, and Lego India.

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