Brainbees Solutions Pvt Ltd, which owns the “FirstCry.com” brand, a baby and kids focused e-commerce site, raised $15m in Series C funding.
The round was led by Vertex Venture Management (a subsidiary of Temasek Holdings), through one of its funds, with participation from existing investors IDG Ventures India and SAIF Partners. In conjunction with the funding, Joo Hock Chua from Vertex will join Manik Arora from IDG Ventures and Ravi Adusumalli from SAIF Partners on the board.
The company intends to use the funds to grow in other Asian markets.
Founded in 2010 by serial entrepreneurs Supam Maheshwari (CEO) and Amitava Saha, Brainbees owns the FirstCry.com brand, an e-commerce platform in India for babycare, kids and maternity care.
It offers over 70,000 products for moms, babies and kids from more than 500 national & international brands. Its product catalog includes a wide range of consumables such as diapers and toiletries, accessories such as strollers, apparel and footwear as well as books and toys for children up to the age of 15 years.
The company currently has four warehouses across India from where it ships products to its customers across 300+ towns and cities and also operates one of the largest supply-chain and logistics networks in India. Additionally, it has 50 FirstCry-branded franchisee stores across 45 cities.
FinSMEs
21/01/2014