New Delhi — The EleFant, a mobile-app-based toy subscription platform, has raised $1 million in a Pre-Series funding round led by Growth Sense Venture Fund. The round also saw participation from JIIF (JITO Incubation & Innovation Foundation), Arian Capital, Asit Oberoi, Ansh Saraf, Vimal Saboo, and other angel investors.
Founded by Sourabh Jain and Srishti Jain, the company operates a toy subscription service for children aged 0–12. Subscribers can choose from more than 1,000 toys and books sourced from over 90 brands and have them delivered to their homes. Returned items are recirculated through the platform after sanitisation and maintenance.
The company said subscription plans start at ₹599 per month. Toys are curated based on age and developmental relevance, according to the company.
the EleFant currently operates through a Franchise-Invested, Company-Operated (FICO) model, under which franchise partners invest in toy inventory while the company manages operations, logistics, and customer experience. The platform said it has more than 125 franchise partners across over 18 cities in India.
Jeenendra Bhandari, chairman of JIIF, said the company has demonstrated “sharp consumer understanding and disciplined execution” since its incubation stage.
Sourabh Jain, founder and chief executive officer of the EleFant, said the funding will be used to expand the company’s technology infrastructure and strengthen its presence in key markets.
The company said it aims to surpass 50,000 subscribers and expand to more than 20 cities over the next 12 months.
