By Entrackr
EleFant, a mobile app-based toy Library, has raised Rs 6 crore (about $750K) in its seed round co-led by Venture Catalysts, Malpani Ventures with participation from several notable investors and family offices.
The funding round saw participation from a roster of investors, including Sudhakar Pai, (MD, Kurlon Industries), Jyothi Pradhan (CEO – Kurlon) Family Office, Agre Global FZE, Growth 91/Growth Sense, IVY Growth, Serious One Capital.
The proceeds will be used to optimize its supply chain, reducing delivery times and costs, while also investing in data analytics to better understand and serve its customers, EleFant said in a press release.
Founded by Sourabh Jain, EleFant offers an extensive selection of toys and books for children aged 0-12 years, sourced from over 70 top brands with over 600 options. In a feat, the EleFant has garnered over 13,000 registered users and 1000 fully paid subscribers in less than 10 months since its launch.
The platform also empowers home-based women entrepreneurs through its innovative Librarian Model. Currently with over 52 Librarian centers across India, these librarians manage toy inventory and facilitate exchanges within their communities, earning a fixed income while promoting sustainable play and becoming brand ambassadors.