Toy marketplace Snooplay raises Pre-series A1 funding from Pravek Family Office
In a pre-Series A1 investment round headed by Pravek Family Office and included additional strategic angel investors, toy marketplace Snooplay has raised Rs 8 crore.
The Noida-based business had previously raised $535K in a preliminary fundraising round.
According to a press release from Snooplay, the money raised will be used to introduce its two in-house, cutting-edge tech products that will use AI, data, and empathy to revolutionize how toys are found, purchased, and recycled in India.
Aanchal Mahajan and Brij Raj Singh co-founded Snooplay in 2019 with the goal of creating a full-stack, AI-powered toy platform that combines guilt-free disposal, purchasing, and discovery into a single, cohesive ecosystem. The company’s exclusive Toy Intelligence Database is a first for the industry in mapping toys to moods, play styles, learning objectives, and developmental skills.
“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.
According to Snooplay, it serves an expanding community of Indian parents, collectors, and gift-givers and has over 35,000 toys from over 600 brands. Snooplay is the first app in India to develop play-centered infrastructure, with the goal of establishing a single, intelligent loop of more intelligent discovery and guilt-free exit.
In order to facilitate sustainable toy donations and promote conscientious consumption, Snooplay plans to grow its buyback program in partnership with non-governmental organizations. In addition to improving its technology, logistics, and operational foundation, the brand will expand its private label products in contemporary retail locations, e-commerce platforms, and curated gifting verticals.
Funskool, Mattel Toys (India), Simba Toys India, Hamleys (India), Hasbro India, and Lego India are some of the other well-known toy brands.
