Mirana Toys Secures Rs 57.5 Crore Series A Funding for Growth

Mirana Toys has successfully raised Rs 57.5 crore (approximately $6.9 million) in Series A funding, with Arkam Ventures leading the investment. Noteworthy contributors to this investment include Accel, Info Edge, and Riverwalk Holdings. The capital acquired will facilitate the establishment of a new manufacturing facility, equipped with injection-molding and die-casting machines, as well as in-house packaging lines. This initiative aims to boost production capacity in order to meet both domestic and international market demands. Additionally, Mirana plans to broaden its design and sales teams to drive international expansion.

About Mirana Toys

Established in 2021 by Devansh Sharma and Ravi Yadav, Mirana focuses on the design and manufacture of AI-enhanced robots, augmented reality (AR) remote-controlled cars, remote-controlled (RC) vehicles, STEM kits, and educational toys. The company oversees the entire production process, from 3D design and prototyping to the integration of electronics and final assembly, all while maintaining stringent in-house quality control.

Operational Structure

Mirana operates with a vertically integrated system that encompasses design, electronics, tooling, molding, assembly, and compliance. This infrastructure enables the company to effectively meet the global demand for smart and educational toys.

Market Presence and Opportunities

The company has formed partnerships with Indian automotive brands for licensed toy products, and boasts a strong order pipeline from clients in the US and Europe. Exports to the US account for approximately 40% of Mirana’s total demand, and discussions are underway with distributors in the Middle East and Africa.

Product Availability

Mirana’s products can be found in over 3,000 retail locations across India, as well as on major eCommerce and quick-commerce platforms. Remarkably, more than one million children worldwide interact with Mirana Toys.