Baby products e-commerce retailer, Pune’s FirstCry.com raises Rs. 82cr funding
Pune’s FirstCry.com, a baby-products online retail store, has just raised Rs. 82 cr from Singapore’s Temasek Holdings, and existing investors IDG Ventures, and Saif Partners, reports the Economic Times. This is FirstCry’s third round of funding. Previously FirstCry had raised $4 million in 2011, and $14 million in 2012.
FirstCry, which has tied up with 500 brands, offers over 70,000 products including diapers, toys, toiletries, strollers, apparel and footwear as well as books and toys 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. It gets 20% of its revenue from mobile-based transactions.
First Cry was founded by Supam Maheshwari and Amitava Saha in December 2010. Before that, Supam was one of the founders of Pune based e-learning company Brainvisa Technologies, which was acquired by Indecomm Global Services for about $25 million in 2007. Amitava was a senior vice president at BrainVisa and had been there since 2003.