- Traders together with TPG Development, Premji Make investments, and ChrysCapital will reportedly take part within the funding spherical.
- Earlier, The corporate had raised $296 million collectively in a Sequence E funding spherical from Softbank’s Imaginative and prescient Fund.
- Thus far, FirstCry has raised greater than $420 million in funding.
Pune-based on-line babycare retailer FirstCry is seeking to elevate round $200 million (about Rs 1,456 crore) in funding from numerous enterprise and personal fairness corporations. The spherical might double the corporate’s valuation to just about $2 billion.
Traders together with San Francisco-based TPG Development, Premji Make investments, and ChrysCapital will take part within the $200 million funding spherical, The Financial Instances reported.
The upcoming funding spherical would enable the early-stage buyers to promote their stakes totally or partially, the report added.
In February 2020, FirstCry had raised $296 million collectively in a Sequence E funding spherical from Softbank’s Imaginative and prescient Fund, which holds 40% stakes within the firm. At the moment, The corporate’s valuation stood at past $1 billion.
Thus far, FirstCry has raised over $420 million in funding from Softbank’s Imaginative and prescient Fund, Chiratae Ventures, Adveq, SAIF Companions, Temasek Holdings, New Enterprise Associates, Mahindra Rise, IDG Capital, Vertex Ventures, amongst a number of different buyers.
The corporate can also be planning to launch its Preliminary Public Providing (IPO) within the subsequent two years. In addition to FirstCry, Hopscotch and MyBabyCart additionally work on the babycare product section.
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In October 2016, FirstCry acquired on-line babycare product retailer BabyOye for Rs 362 crore from Mahindra. Based in 2010 by IIM Ahmedabad alumnus Supam Maheshwari, FirstCry, operated by BrainBees Options Pvt. Ltd., is one in all India’s early on-line child and mom care merchandise retailer. The corporate claims to have greater than 400 retail shops throughout the nation.
FirstCry has its shops in cities like Mumbai, Bengaluru, Delhi, Karnal, Ahmedabad, Allahabad, Jaipur, Gurgaon, Udaipur, Chennai, Agra, Raichur, Kota, and extra.
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