Jammbo, a burgeoning Indian toy manufacturer founded in 2023, has announced its remarkable achievement of surpassing Rs 50 crore in annual recurring revenue (ARR). Founded in August 2023 by Manasvi Singh, Anirban Chatterjee, Vipin Nijhawan, and Archit Bhargava, Jammbo has experienced exponential growth in its short time in operation, driven by its innovative product range and strategic business approach.
In a media statement, Jammbo revealed that it achieved consolidated sales worth Rs 21 crore in the first six months of operations, leveraging its unique B2B2B (business to business to business) and D2C (direct-to-consumer) strategies. Notably, the company reported a staggering 2,400% growth in its D2C channel between January and March this year, soaring from Rs 3 lakh to Rs 75 lakh.
Specialising in ride-on battery toys, including electric cars and bikes, Jammbo has quickly established itself as a frontrunner in the industry. With approximately 50 products in its portfolio, the company aims to expand its range to over 200 products within the next 10 months. Ride-on toys have been recognized for their ability to enhance children’s motor skills, cognitive development, and social interactions, making them a popular choice among parents worldwide.
Jammbo has solidified partnerships with prominent platforms such as FirstCry and Hamleys, in addition to B2B vendors, further bolstering its market presence and accessibility. Commenting on the company’s success, Manasvi Singh, CEO, and co-founder of Jammbo, highlighted the significance of local manufacturing with global standards. “Jammbo is a testament to the spirit of Atmanirbhar Bharat,” Singh remarked, emphasizing the company’s commitment to fostering indigenous manufacturing capabilities while meeting international quality benchmarks.
Vipin Nijhawan, co-founder, and CPO of Jammbo reiterated the company’s vision of propelling India onto the global stage as a leader in the toy market by 2030. “We aspire to elevate India’s position in the global toy market and inspire a new generation of creators, dreamers, and innovators,” Nijhawan stated. “With the decreasing flow of toys from China to the world, India has a significant opportunity to emerge as a dominant player in the global toy market.”
Excitingly, Jammbo is set to embark on its international expansion journey, with plans to enter markets in the UAE, Europe, and the US around July. This move marks a significant milestone for the Indian toy industry and underscores Jammbo’s commitment to shaping the future of play on a global scale.
