Brainbees Raises $14Mn From IDG Ventures & SAIF Partners
by Irfan Khan
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.
Oxigen Services, a payment solutions provider is looking to raise $200 Mn from private equity investors, strategic investors and development financial institutions and is expecting to close the deal of $50 Mn as part of the first tranche by the end of this year.