Elefant is a mobile application that offers a toy library that provides rental toys for children. The startup secured Rs 6 crore in its seed funding round co-led by Malpani Catalysts and Venture Catalysts. The funding round saw participation from several investors and family offices including Sudhakar Pai, CEO of Kurlon’s family office, Growth 91, IVY growth, Serious One capital, and Agre Global FZE.
The company aims to provide an innovative toy library with rental services for fun and educational toys. The platform enables parents to rent these toys for their children. The startup plans to use this fresh capital to optimize its supply chain, scale operations, enhance its platform for better user experience, and expand its market presence. The firm aims to use this investment to reduce its delivery time and cost expenses. EleFant aims to invest in data analytics to understand the needs of its customers and serve them according to their needs. This will help the startup to increase its customer base.
The platform is less than a year old and has around 13,000 registered users with 1000 fully paid subscribers. The mobile application and website offer rental toys and books for children less than 12 years. The platform offers over 600 options from more than 70 leading brands. Elefant also helps women entrepreneurs through this innovative librarian model. The startup works closely with 52 library centers and it plans to increase the number after this funding round.
The company offers various toys to help children with cognitive development, imagination, and creativity. The company aims to empower women entrepreneurs while shaping a bright future for children. The startup claims to carefully select toys to provide imagination and create a fun learning experience for children. This platform makes it faster and easier to search and rent toys and other educational stuff for children. The startup operates in more than 15 cities and serves its customers through its websites and Elefant app.
Conclusion:
Elefant is a platform that offers online toy rental services for children between 0 to 12 years. The startup secured Rs 6 crore in a seed funding round co-led by venture Catalysts and Malpani Catalysts. The funding round saw participation from investors including Sudhakar Pai, CEO of Kurlon’s family office, Growth 91, IVY growth, Serious One capital, and Agre Global FZE. The company plans to use these fresh proceeds to scale its operations, expand its market presence, optimize its supply chain, and enhance its platform for a better user experience. EleFant aims to invest in data analytics to understand the needs of its customers and serve them accordingly to increase its customer base. The firm also plans to use its investment in data analytics to understand and serve its customers. The company currently operates in 15 cities and it plans to expand in other parts of the India in next months.
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