FirstCry raises ₹1,050 crores from SoftBank, valued at ₹5,950 crores

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Pune-based baby care products retailer FirstCry has raised ₹1,050 crores ($150 million) as a part of ₹2,800 crores ($400 million) round from SoftBank, according to RoC filings with MCA. According to TechCircle, the funding round has been executed at a valuation of ₹5,950 crores ($850 million).

The pre-money valuation of FirstCry was ₹3,150 crores ($450 million). SoftBank has acquired a 42 per cent stake in the firm. The Pune-based startup counts Ratan Tata, Valiant Capital partners, SAIF Partners, IDG Ventures, Temasek Holdings and Vertex Ventures as notable investors.

SoftBank exited from Flipkart in May last year, the firm invested in OYO and Policybazaar. Furthermore, the venture capital firm is in talks with e-commerce firms like FirstCry, Nykaa and Delhivery to invest a whopping ₹6,300 crores ($900 million) in them. Nykaa and Delhivery are still in talks to raise the funds.

Founded by Amitava Saha and Supam Maheshwari, the nine-year-old startup sells more than 2 lakh baby products across categories like feeding, nursing, skin & healthcare and diapering. It also sells fashion accessories for kids in its 183 offline stores in 29 states in India. The startup competes with Toonz, Hopscotch and Forever Kids as well as big e-commerce players like Amazon and Flipkart.

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SW Staffhttps://startupwonders.com/guestpost
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.

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