Toy manufacturing startup BIDSO has raised Rs 63 crore ($6.7 million) in a Series A funding round, with Blume Ventures leading the investment. This round includes Rs 51 crore in equity and Rs 12 crore in venture debt. Existing investors Peer Capital and Sadev Capital also participated, while venture debt was obtained from Alteria Capital. The Bengaluru-based company previously secured $1.5 million in August 2023, which comprised $1.2 million from a seed round led by Peer Capital and $300,000 from a pre-seed round involving DeVC and other investors like Mohit Sadaani, Nishit Garg, OfBusiness Founders Fund, Saurabh Jain, and Revant Bhate. The new funding will facilitate improvements in product design and manufacturing capabilities, expand the manufacturing footprint and production capacity, and enhance the product range, according to a press release from BIDSO.
Co-founded in 2022 by Ashwin Jain and Rahul Agarwal, BIDSO functions as a design-driven manufacturing platform. It assists consumer brands in designing, developing, and producing customised products at scale. The platform integrates various aspects such as product design, engineering, licensing, and manufacturing, allowing brands to launch new products more swiftly while serving as a long-term supplier.
Over the last year, BIDSO reports having gained significant momentum through global B2B collaborations with prominent toy brands. The company has secured licenses for well-known characters including Peppa Pig, Harry Potter, Transformers, and NASA, enabling the development of licensed product ranges for its partners.
These advancements, alongside a broadened product portfolio and increased manufacturing capacity, have allowed BIDSO to more than double its revenue in the past year. Although the company is currently focused on the toys sector, it aims to diversify into related consumer product categories by harnessing its strengths in design, engineering, and manufacturing.
Additionally, BIDSO is committed to supporting the Make in India initiative by driving demand and enhancing the capabilities of Indian SMEs. The company is focused on improving transparency and efficiency throughout the supply chain using a well-curated partner network.