Brainbees Raises $14Mn From IDG Ventures & SAIF Partners
by Irfan Khan
IDG Ventures has led $14Mn Series B investment into @Brainbees 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.
Along with the merger of Shasun Pharmaceutical with itself, Strides Arcolab also announced the induction of a strategic partner in its greenfield biotech project, Stelis Biopharma. As per the deal GMS Holding will pick up 25.1%s stake in the biotech arm infusing $8.5Mn.
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