JackInTheBox Secures Rs 4 Cr In Seed Funding To Expand Creative Toy Offerings

JackInTheBox, a toy company based in Mumbai, has closed its seed funding round, securing an investment of Rs 4 crore. This round was advised by Bestvantage Investments, with participation from Think Spark and marquee angel investors. The current round can be extended for strategic investors.

  Ashish Ajmera, Founder of JackInTheBox Crafts, commented, “This funding will enable us to expand our product line and inspire even more creativity across all ages. We are excited to have the support of investors who share our vision of bringing joy and creativity into homes globally.”

JackInTheBox Crafts provides do-it-yourself (DIY) craft kits that foster creativity and curiosity for customers across 14 countries, including major markets in the US, India, and the United Kingdom. Claiming to serve over 300,000 customers and maintaining a consistent 4.6-star rating across 10,000 plus reviews, JackInTheBox stated that it is at the forefront of innovation in the creative toy sector.

With the new funding, the company plans to expand its product line from 40 to 400 stock-keeping units (SKUs) and significantly scale operations to meet the growing demand for hands-on, creative projects for both kids and adults. This will further strengthen its presence in India and enhance its offerings worldwide.

As per the company, it is earning before interest, tax, depreciation and amortization (EBITDA) positive and Cash Flow Positive. From a profitability point of view contribution margin-2 (CM2) is at 40 per cent and CM3 at 7 per cent. The company said that it is hopeful about the clear path to EBITDA at 15 per cent. 

Raman Sharma, Founder of Bestvantage Investments, stated, "JackInTheBox is transforming the toy industry with its screen-free, creativity-based solutions. We're proud to support their growth and look forward to helping them unlock new opportunities.”