Ratan Tata invests in FirstCry the Babycare ecomm platform!
Mr Ratan Tata, Chairman Emeritus of Tata Sons and Senior Advisor to IDG Ventures India, has invested an undisclosed amount in his personal capacity into Brainbees Solutions Pvt Ltd, which owns the ‘FirstCry.com’ brand. FirstCry with its market leadership has been able to build a strong and dominant leadership in its category, in a very highly capital efficient manner.
The company is the largest omni-channel (web, mobile and offline) platform of baby and maternity products in India. FirstCry, which started operations in late 2010, has a dominant presence with over 2 million happy parents, over 50% mobile customer base and has over 150 FirstCry branded franchisee offline stores across 100 cities in the country. FirstCry has partnered with 7000 maternity hospitals across the country and delivers the FirstCry GiftBox to over 1 million new mothers every year. Their own brand, BabyHug, is today the leading baby & kids apparel brand in the country.
Brainbees was founded by successful serial entrepreneur Supam Maheshwari who had previously built and sold Brainvisa Technologies. “Our vision is to simplify parenting by creating the necessary eco-system and we have outgrown competitors to become the dominant driver in this space across mobile, online & offline channels. A positive nod from a business leader of Mr. Tata’s stature is a great vote of confidence in the way we have created the eco-system and validation of the business approach leading to definitive path to profitability. We are delighted to have him on board and look forward to gaining from his rich experience.” says Supam Maheshwari, Founder & CEO of Brainbees.
Sudhir Sethi, Founder, Chairman & Managing Director of IDG Ventures India, who is on the board of Brainbees, said “As early investors in Brainbees, we have seen the company grow at a tremendous pace and achieve clear leadership by far in its vertical. Their unique omni-channel approach will continue enabling them to build a disruptive and rapidly scalable model. We are honoured to have Mr Ratan Tata as an investor in the company and look forward to his guidance and support to help with the next phase of growth.”
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.