Continuing his slew of investments in startups, Chairman Emeritus of Tata Sons, Ratan Tata has invested in baby care e-commerce platform FirstCry.
Tata has invested an undisclosed amount in his personal capacity into Brainbees Solutions, which owns the FirstCry.com brand, the company said in a statement.Continuing his slew of investments in startups, Chairman Emeritus of Tata Sons, Ratan Tata has invested in baby care e-commerce platform FirstCry.#
FirstCry is omni-channel player with presence across desktop, mobile and offline routes offering baby and maternity products in India.
It started operations in 2010 and has over 2 million customers. It has over 150 FirstCry branded franchisee offline stores across 100 cities in the country.
"Our vision is to simplify parenting by creating the necessary ecosystem and we have outgrown competitors to become the dominant driver in this space across mobile, online & offline channels," Brainbees Solutions founder and CEO Supam Maheshwari said.
A positive nod from a business leader of Tata's stature is a great vote of confidence in the way FirstCry has created the ecosystem and validation of the business approach leading to definitive path to profitability, Maheshwari added.
Brainbees has raised $69 million in capital over multiple rounds from marquee investors including IDG Ventures India, SAIF Partners, Vertex Ventures, Valiant Capital and NEA. (SH)
ALCHEMPro News Desk - India
marketing@alchempro.com
