Indian e-commerce site FirstCry has received $15 million Series C investment from Vertex Venture Management and existing investors IDG Ventures India and SAIF Partners.
Brainbees, which owns FirstCry.com brand, offers over 70,000 products for moms, babies and kids from more than 500 brands.
Supam Maheshwari, founder & CEO of Brainbees, said the company has expanded the FirstCry brand into other channels such as mobile and offline through franchisees across India.
Brainbees currently has four warehouses across India from where it ships products to its customers across 300+ towns and cities. The company also operates one of the largest supply-chain and logistics networks in India. Additionally, it also has 50 FirstCry-branded franchisee stores across 45 cities.
“We have been impressed with FirstCry’s dominance in the online baby and kids market and look forward to leveraging our experience and expertise in hybrid online-offline business models from our investments and direct presence in other growing markets in Asia to help grow the company,” said Joo Hock Chua, managing director and CIO of Vertex Venture Management.
“Since IDG’s investment, transactions have grown rapidly, strong loyalty metrics are evident, mobile offerings have been launched and 50 franchisee stores are driving offline sales. The company has demonstrated strong traction and we welcome Vertex to help with the next phase of growth,” said Manik Arora, founder and managing director of IDG Ventures India Advisors.