Arkam leads Rs 57.5 Cr Series A round in Mirana Toys

Mirana Toys has raised Rs 57.5 crore ($6.9 million) in Series A funding led by Arkam Ventures, with participation from Accel, Info Edge, and Riverwalk Holdings. 

The proceeds will be used to set up a new factory with injection-molding and die-casting machines and in-house packaging lines. This will increase production to meet domestic and export demand. Mirana will also expand its design and sales teams for international growth.

Founded in 2021 by Devansh Sharma and Ravi Yadav, Mirana designs and manufactures AI-enabled robots, AR-enabled RC cars, RC vehicles, STEM kits, and educational toys. The company manages the entire process from 3D design and prototyping to electronics integration and assembly with in-house quality control.

Mirana operates a vertically integrated system across design, electronics, tooling, molding, assembly, and compliance. This allows the company to serve global demand for smart and educational toys.

It has partnerships with Indian automobile brands for licensed toys and an order pipeline from the US and Europe. Exports to the US contribute around 40% of total demand, and Mirana is in discussions with distributors in the Middle East and Africa.

Mirana products are available in over 3,000 stores in India and across major eCommerce and quick-commerce platforms. More than one million children use Mirana Toys worldwide.