Jammbo, a bootstrapped Indian toy manufacturer founded in 2023, has said in a media statement that it has exceeded Rs 50 crore in annual recurring revenue (ARR). Launched in August 2023 by Manasvi Singh, Anirban Chatterjee, Vipin Nijhawan and Archit Bhargava, Jammbo achieved consolidated sales worth Rs 21 crore in the first six months of operations, led the start-up’s B2B2B (business to business to business) and D2C (direct-to-consumer) strategies.
“In addition, between January and March this year, Jammbo achieved 2,400% growth in its D2C channel, from Rs 3 lakh to Rs 75 lakh,” it said in a statement.
Jammbo, which makes ride-on battery toys (electric cars and bikes), has about 50 products in its portfolio, and in the next 10 months it plans to expand the range to more than 200 products. Ride-on toys have been proven to boost development of kids. These help with motor skills and make them active. These toys also help cultivate cognitive growth, such as problem-solving and decision-making, spatial awareness, creativity, emotional intelligence, technology integration, as well as social interactions and teamwork (when playing with other kids).
Jammbo has now partnered with platforms such as FirstCry and Hamleys, in addition to B2B vendors.
Manasvi Singh, the CEO & co-founder of Jammbo, said that the start-up is an emblem of Atmanirbhar Bharat. “Our trajectory underscores the strength of local manufacturing with global standards,” Singh said.
Vipin Nijhawan, co-founder & CPO, added that Jammbo wants to help make India the toy capital of the world by 2030. “We aim to elevate India’s status in the global toy market, but also inspire a new generation of creators, dreamers and innovators,” Nijhawan said. “With decreasing flow of toys from China to the world, India has the opportunity to become a leader in the toy market.”
The start-up will soon start international operations, and will enter the markets of the UAE, Europe, and the US, around July.