FirstCry.com Raises $4 Mn From SAIF Partners
SAIF Partners has invested $4 Mn in online kids and babycare products retailer, FirstCry.com.
BrainBees Solutions Pvt Ltd, which runs FirstCry.com, will use the funds to expand its team, supply chain, build warehouses and increase product range to include 15,000 items by the end of this year. Currently, it has 30 employees and one warehouse.
Transaction Reference: Economic Times
Founded in 2010 by IIM graduates, Supam Maheshwari and Amitava Saha, Pune-based FirstCry has tied-up with over 100 brands like Mattel, Funskool, Hotwheels, Disney , Barbie, Zapak and offers a range of over 4,000 products including Pampers diapers, Johnson's skincare range and cyclemaker BSA's prams and strollers.
Currently, it does 200 transactions a day. The portal has plans to expand to newer markets in Asia like Srilanka, Indonesia and Malaysia.
Supam Maheshwari had earlier co-founded Brainvisa Technologies Pvt. Ltd, which was sold to Indecomm Global Services in 2007.
Last week, another online baby products store Babyoye.com raised $2.5 Mn funding from Accel Partners and Tiger Global.
Other in this space is Hushbabies.com. Consumer marketing firm, Jasper, that owns Snapdeal has also launched Babybox.in.
In February this year, Hyderabad-based Hoorayy Technologies, which operates ecommerce website LootMore.com, launched Kidloo.com, an online store for baby and kid products targeting the 0-12 year age group.
This is SAIF's second investment in India this year. In January, it invested $3 Mn in Mumbai-based online apparel retailer Inkfruit.com (Fingerprints Fashions Pvt Ltd). In the online space, SAIF Partners has investments in Makemytrip.com and JustDial.com. Its other investments includes Catmoss Retail, Network 18 Media, Home Shop18, among others.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 13/02/12 | Brainbees Solutions - IDG Ventures, Saif Partners | Venture Capital | SAIF Partners | 14.00 |
| 26/04/11 | BrainBees Solutions Pvt Ltd (FirstCry.com) - SAIF Partners | Venture Capital | SAIF Partners | 4.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/05/12 | Private Equity | Looking For | Prizm Payment Services Private Limited | 92.18 | Planned |
| 17/05/12 | M&A | Carzonrent India Private Limited | QCABS | - | Announced |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | Chakpak Media Private Limited | - | Completed |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | WheelsUnplugged.com | - | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| SAIF Partners | BFSI Education Healthcare Media IT/ITES/Technology |
http://www.sbaif.com/ | Ravi AdusumalliVibhor MehraVishal SoodDeepak GaurMukul SinghalPiyush GoyalNitesh BhadaniSanjeev -Vivek MathurAbhimanyu SanghiPrashant Talwar | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Brainbees Solutions Private Limited | Supam Satyanarayan Maheshwari Amitava Asit Kumar Saha |
B/402, 1 Modi Baug, Cts 2254 To 2260, G.K. Road, Shivaji Nagar | www.firstcry.com | |
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