MyFirstCheque, an India-based seed fund, is today announcing that it has invested in Pre Cared, a Mumbai-based online store for used baby products, founded by Tabrez Khan. The service aims to re-sell baby products which have been used for just a short time, and at the same time give parents an affordable and eco-friendly option when buying.
While recycling baby products is a very logical idea (babies are only babies for so long, after all!) Pre Cared also has ‘informal alliances’ which gives parents an option of donating the profits from a sold product rather than accept it for themselves. Gautam Sinha, partner at MyFirstCheque, commented on the investment in Pre Cared:
They are addressing a great space and have provided the necessary twist to make available extremely high quality baby products at prices that make it competitive for a very large mass of Indian consumers. We also see a huge potential for these products beyond the metro cities of India which makes it even more exciting. As always, at the end it was Tabrez’s experience and focus that swung our decision to invest.
Despite the funds’ name, this is not the first investment for my MyFirstCheque — it’s actually their fourth. We previously told you about its investment in deals aggregator OfferGrid out of Bangalore. The other two companies were Mericar, a car service and repair web portal, and apply2many, an online resumé submission service.
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