JIIF, Arian Capital, Asit Oberoi, Vimal Saboo, and other angel investors participated in the $1 million pre-Series funding round for The EleFant, which was led by Growth Sense Venture Fund.
Its technology infrastructure will be strengthened and its presence in important markets will be increased with the proceeds.
Sourabh and Srishti Jain founded The EleFant, a toy subscription service and circular play platform for kids ages 0 to 12.
Families can subscribe to toys and books from more than 90 brands on the platform with monthly plans starting at Rs 599. Through the platform, users can select new toys and return used ones.
The startup currently offers more than 1,000 toys and books and operates through a Franchise-Invested, Company-Operated (FICO) model. In eighteen cities, it has more than 125 franchise partners.
In the upcoming year, EleFant hopes to reach 50,000 subscribers and reach more than 20 cities.
