EleFant, a mobile app-based toy library, has successfully raised Rs 6 crore (approximately $750K) in its seed funding round co-led by Venture Catalysts and Malpani Ventures. The investment round saw participation from various notable investors and family offices, including Sudhakar Pai (MD, Kurlon Industries) and Jyothi Pradhan (CEO – Kurlon) Family Office, among others.
According to EleFant’s press release, the funds will primarily be allocated towards enhancing its supply chain efficiency to reduce delivery times and costs. Additionally, investments will be made in data analytics capabilities aimed at gaining deeper insights into customer behavior and preferences, thereby improving overall service.
Founded by Sourabh Jain, EleFant specializes in offering a diverse range of toys and books targeted at children aged 0-12 years, sourced from over 70 renowned brands, encompassing more than 600 options. Within a remarkably short span of less than 10 months since its inception, EleFant has attracted over 13,000 registered users and secured 1000 fully paid subscribers.
A distinctive aspect of EleFant’s business model is its Librarian Model, which empowers home-based women entrepreneurs across India. Currently operating with 52 Librarian centers nationwide, these individuals manage toy inventories and facilitate community exchanges, earning a stable income while promoting sustainable play practices and serving as brand advocates.
Avinash Dyal