EleFant Secures Rs 6 Crore to Reinvent Toy Subscription with Sustainable Play

EleFant, a mobile app-based toy library, has raised Rs 6 crore in seed funding co-led by Malpani Ventures and Venture Catalysts. Founded by Sourabh Jain in 2023, the app aims to offer sustainable, educational toy subscriptions for children. The investment highlights EleFant's potential to transform India's $1.75 billion toy market.

EleFant, a pioneering mobile app-based toy library, has successfully clinched Rs 6 crore (approximately $750,000) in its seed funding round. Co-led by Malpani Ventures and Venture Catalysts, the funding round also saw participation from notable investors, including Sudhakar Pai and Jyothi Pradhan from Kanara Consumer Products Limited, among others.

Founded in 2023 by Sourabh Jain, EleFant arose from the clutter of unused toys and the incessant demand for new ones. The platform aims to provide a continuous stream of engaging, educational toys while promoting sustainability. Jain's vision was driven by his experience as a devoted father, observing his daughter's curiosity.

Currently operational in over 16 cities in India, EleFant offers a unique Discover-Play-Return model, significantly changing the traditional toy market. The platform has quickly amassed 13,000+ registered users and 1,000+ fully paid subscribers within ten months of its launch, disrupting the conventional Buy-Play-Clutter approach.

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