Indian kids e-store FirstCry raises $26 million in fresh funding

FirstCry, the Indian online baby products retailer, has raised US$26 million in Series D round led by Valiant Capital Partners and existing investors IDG Ventures India, Ventex Venture Holdings, and SAIF Partners, according to a report by the Economic Times.

Last year the firm had secured a US$15 million in series C funding in an investment led by Vertex Venture Holdings – a subsidiary of Temasek, Singapore’s sovereign wealth fund.

“The funds raised will be used to scale across channels, online, mobile and offline, and invest in growing the private label business,” said Supam Maheshwari CEO and co-founder of FirstCry.

Founded in 2010, the online store for baby products and toys had forayed into personal care essentials through GoodLife, a portal catering to beauty and wellness products.

The company competes in the Indian online baby care market, which is expected to reach US$500 million by 2017.

Recently, Hopscotch, a Mumbai-based online baby products retailer had raised US$11 million in Series B round led by Facebook co-Founder Eduardo Saverin with participation from Los Angeles based early stage investor Velos Capital.

Source: The Economic Times

See: Paktor winning in Southeast Asia, gets funding from Temasek subsidiary Vertex