Brainbees Raises $14Mn From IDG Ventures & SAIF Partners
IDG Ventures has led $14Mn Series B investment into Brainbees Solutions Pvt Ltd. Saif Partners also participated in the round of funding.
Founded in 2010 by IIM graduates, Supam Maheshwari and Amitava Saha, Pune-based Brainbees Solutions owns FirstCry.com and Goodlife brand. 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.
Supam Maheshwari had earlier co-founded Brainvisa Technologies Pvt. Ltd, which was sold to Indecomm Global Services in 2007.
In April last year, FirstCry raised $4Mn Series A funding from SAIF Partners.
There has been a spurt of investments in portals targeting expecting moms and kids with Babyoye.com raising $2.5Mn from Accel Partners and Purple E-Retail India owned hoopos.com raising funding from Helion Venture Partners.
There a some others operating in this space including Hushbabies.com, Babybox.in and Kidloo.com.
IDG Ventures is a division of US-based International Data Group Inc.(IDG). In 2006, IDG Ventures had set up its first India-based fund of $150 Mn and has plans to raise another $150-200 million for investments in tech start-ups in India.
This IDG Ventures third investment in last six months. It invested $4Mn in Valyoo Technologies Pvt Ltd, which runs e-commerce businesses for eyewear (lenskart.com), watches (watchkart.com) and bags (bagskart.com) in October'11 and $3Mn in online fashion retailer - eShakti.com Pvt Ltd in August'11.
IDG Ventures investment portfolio includes Apalya Technologies, Myntra Designs, iProf Learning, Sourcebits Technologies Pvt Ltd, Agile Financial and 3D Solid Compression Pvt. Ltd. Earlier, IDG Ventures invested $3Mn in Mobile Ad Network firm Vserv Digital Services.
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|2012-02-13||Brainbees Solutions - IDG Ventures, Saif Partners||Venture Capital||
IDG Ventures India Fund
|2011-04-26||BrainBees Solutions Pvt Ltd (FirstCry.com) - SAIF Partners||Venture Capital||
|20/05/2013||Venture Capital||Sandeep Johri||Wishpoint Tech Private Limited||-||Completed|
|15/05/2013||Venture Capital||Unknown Investor||PriceBaba||-||Completed|
|14/05/2013||Venture Capital||Tiger Global Management LLC||Caratlane Trading Private Limited||15.00||Completed|
|08/05/2013||Venture Capital||Samir Bangara||Qyuki Digital Media Private Limited||-||Completed|
|IDG Ventures India Fund||150|| BFSI
|www.idgvcindia.com||Sudhir SethiManik AroraRitesh BanglaniRanjith Menon|
|SAIF Partners|| BFSI
|http://www.sbaif.com/||Ravi AdusumalliVibhor MehraMukul SinghalPiyush GoyalNitesh Bhadani|
|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||http://www.firstcry.com|
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