Baby and maternity products retailer, FirstCry.com, which is owned by Brainbees Solutions Pvt Ltd., has received funding of undisclosed amount from eminent industrialist Ratan Tata. Tata has already invested in over a score of companies including Snapdeal, Paytm, Ola and CarDekho in his personal capacity.
FirstCry.com was started in 2010 by Supam Maheshwari and Amitava Saha. It is an omni-channel platform of baby and maternity products in India, operating through web, mobile and offline modes. It can boast of over 150 branded franchisee stores across 100 cities in the country. It retails thousands of items from top Indian and international brands catering to kids from newly born ones up to early teens. Their own brand, BabyHug, is today the leading baby and kids apparel brand in the country.
Speaking about Tata’s investment, the company’s founder said, “A positive nod from a business leader of Mr Tata’s stature is a great vote of confidence in the way we have created the eco-system and validation of our business approach to profitability. We are delighted to have him on board and look forward to gaining from his experience.”
Brainbees has raised approximately $ 70 million funds over multiple rounds of funding from various investors. In April 2015, the company had raised $10 million from venture capital firm New Enterprise Associates and San Francisco-based Valiant Capital.