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FirstCry raises $36 mn in Series D round led by NEA, Valiant Capital

Brainbees Solutions
Pvt Ltd, which owns the FirstCry.com brand, a baby and kids focused e-commerce
site, has raised a $36 million in Series D funding round led by Valiant Capital
Partners and New Enterprise Associates (NEA).  
Existing investors IDG Ventures India, Vertex and SAIF Partners, also
participated in the round.

Brainbees Solutions
Pvt Ltd, which owns the FirstCry.com brand, a baby and kids focused e-commerce
site, has raised a $36 million in Series D funding round led by Valiant Capital
Partners and New Enterprise Associates (NEA).  
Existing investors IDG Ventures India, Vertex and SAIF Partners, also
participated in the round.

San
Francisco-headquartered Valiant Capital, which currently manages over $2.5
billion of assets, has a strong track record of technology investing in private
and public markets globally.  NEA, one of
the world’s largest and most active venture capital funds, manages more than
$13 billion in committed capital.

Brainbees, which
started operations in late 2010, and owns the ‘FirstCry.com’ brand, has over
100 FirstCry-branded franchisee stores across 85 cities in the country. Brainbees
now has distribution partnerships with over 6,000 hospitals reaching over a
million new parents across the country every year.  

Brainbees was
founded by serial entrepreneurs Supam Maheshwari and Amitava Saha, who had
previously built and sold Brainvisa Technologies.  “We plan to use the funds to focus on
expanding our leadership across all channels (online, mobile and offline), as
well investing in the growth of our private label business” says Supam
Maheshwari, Founder & CEO of Brainbees. 

According to
Chris Hansen, Managing Partner of Valiant Capital, “Supam and Amitava are
seasoned entrepreneurial leaders who have demonstrated their ability to build
and scale-up a world-class organization. We have been highly impressed with
FirstCry’s leadership and believe it is becoming one of the marquee e-commerce
brands in India.  We are excited to be
part of this terrific company”

Ben Mathias,
Partner and Executive Director, New Enterprise Associates (India), Pvt. Ltd.
said “With our prior experience of investing at Diapers.com in the US, we could
see a lot of similarities in building a successful model. Brainbees team has
demonstrated a superb execution and innovation capabilities which are the key
drivers of their rapid growth. We believe that Brainbees has the potential to
strengthen its domination of the baby and kids products market in India.”

 

 

 

 

 

 

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