Babycare portal First-Cry gets Rs 92 cr from Temasek arm

Online baby care portal has received funding of Rs 92 crore in what is the largest investment in an ecommerce company selling just one category of products. The equity investment was led by Vertex Venture Management, a subsidiary of Singapore's state-run investment company Temasek Holdings. Existing investors in the company IDG Ventures India and Saif Partners also participated in this third round of funding.

FirstCry, which is owned by Brainbees Solutions and is based in Pune, will use the money to double its network of brick and-mortar stores and hire more people for its online retail and mobile commerce services. Vertex has backed a similar hybrid model earlier in India, when it invested in Gurgaon-based GreenDust which retails refurbished electronic goods both online and in stores on the ground.

Supam Maheshwari, 40, chief executive of Brainbees Maheshwari and co-founder Amitava Saha set up FirstCry in December 2010.

Maheshwari, an IIM-Ahmedabad graduate, sold his e-learning company Brainvisa Technologies to Indecomm Global Services for about $25 million in 2007. Saha, from IIM-Lucknow, led sales and business operations at Brainvisa.

FirstCry's main rival is BabyOye. com, backed by Accel Partners and Tiger Global. Last April, Baby Oye acquired Bangalore-based Hoopos. Another firm, Hushbabies that started in 2009, closed down last year.
FirstCry, which has tied up with 500 brands, offers over 70,000 products for children up to the age of 15 years. It also has 50 branded franchisee stores across 45 cities and expects to grow this network to 100 stores.

Share this:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Cashback site Cashkaro now offers restaurant discounts

    India’s e-commerce market looks large and lucrative enough from the outside, but insiders know it is very challenging. In fact, the number of e-commerce sites and businesses is growing so fast here today that the competition is cut-throat. This

  • What is Viscose Material? Advantage and disadvantage of viscose.

    Viscose is a unique form of wood cellulose acetate used in the nnmanufacture of a number of different products. This includes items for nnthe medical industry, though it is perhaps most common as a major nningredient in the production of the fabric r

  • Honda launches new CBR 250R bike
    Honda launches new CBR 250R bike
    July 01, 2014 5:50 am

    New Delhi: Honda Motorcycle & Scooter India (HMSI) launched a new edition of its global sports performance bike CBR 250R priced between Rs 1.56 lakh and Rs 1.86 lakh (ex-showroom Delhi). The 2013 edition CBR 250R is available for sale across a

  • Zara has opened store at Ambience mall, Gurgaon

    Zara, has opened its new store at Ambience mall, Gurgaon. Spread over 28,000 sq.ft. across two floors the store has taken the space earlier occupied by Debenhams. With this Zara now has twelve stores in India. It is present in 86 countries with