Total amount raised
$793.7 Million
Latest funding date
8/1/2023
Location
FirstCry has successfully raised funds through 11 different funding rounds, attracting the support of 20 investors, including notable names like DSP Family Office and MEMG Family Office. The platform specializes in offering a wide range of baby and kids products, aiming to provide a convenient shopping experience for parents.
Keep reading to explore the intricacies of FirstCry's fundraising journey and the investors backing this comprehensive online store for baby and kids products.
What Is FirstCry?
FirstCry, founded in 2010, is an online store specializing in baby and kids products. Based in Pune, Maharashtra, India, the company operates in the E-Commerce and Shopping industries.
With an employee count between 1001-5000, FirstCry offers a wide range of products including clothing, toys, diapers, and baby gear. The company aims to provide a convenient shopping experience for parents, featuring products from top national and international brands.
How Much Funding Has FirstCry Raised?
- Secondary Market
- Amount Raised: INR 4,350,000,000
- Date: August 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to existing shareholders and support ongoing business operations.
- Secondary Market
- Amount Raised: USD 300,000,000
- Date: March 2021
- Lead Investors: ChrysCapital, Premji Invest, TPG Capital Asia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Series Unknown
- Amount Raised: USD 13,000,000
- Date: March 2021
- Lead Investors: Premji Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives.
- Series E
- Amount Raised: USD 150,000,000
- Date: February 2020
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Estimated between $975 million and $1.09 billion
- Motivation Behind the Round: To accelerate growth and achieve unicorn status.
- Series E
- Amount Raised: USD 149,360,000
- Date: January 2019
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $850 million
- Motivation Behind the Round: To expand operations and increase valuation.
- Series D
- Amount Raised: USD 34,000,000
- Date: October 2016
- Lead Investors: Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business expansion and product development.
- Series D
- Amount Raised: USD 26,000,000
- Date: February 2016
- Lead Investors: Valiant Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance market penetration and operational capabilities.
- Series D
- Amount Raised: USD 36,000,000
- Date: February 2015
- Lead Investors: Valiant Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale business operations and improve product offerings.
- Series C
- Amount Raised: USD 15,000,000
- Date: January 2014
- Lead Investors: Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product range and market reach.
- Series B
- Amount Raised: USD 14,000,000
- Date: February 2012
- Lead Investors: Chiratae Ventures, IDG Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and market entry.
Total Amount Raised: USD 1,187,360,000. Current Valuation: Estimated between $975 million and $1.09 billion.
Key Investors
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company known for its investments in technology, energy, and financial sectors.
- Investment Focus Areas: Technology, energy, financial sectors.
- Notable Investments: Alibaba, Uber, WeWork.
- IDG Ventures
- Details: IDG Ventures is a global network of venture capital funds with approximately $3.6 billion under management, focusing on technology investments.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Flipkart, Myntra, Lenskart.
- SAIF Partners
- Details: SAIF Partners is a leading private equity firm that provides growth capital to companies in Asia.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Paytm, MakeMyTrip, JustDial.
- Valiant Capital Partners
- Details: Valiant Capital Partners is an investment firm that focuses on long-term investments in public and private companies.
- Investment Focus Areas: Public and private companies across various sectors.
- Notable Investments: Facebook, LinkedIn, Twitter.
- Ratan Tata
- Details: Ratan Tata is an Indian industrialist, philanthropist, and former chairman of Tata Sons, known for his investments in various startups.
- Investment Focus Areas: Technology, e-commerce, consumer products.
- Notable Investments: Ola, Paytm, Snapdeal.
What's Next for FirstCry?
FirstCry stands on the brink of significant growth opportunities, driven by its robust online-to-offline (O2O) model and a substantial infusion of funds. With a valuation nearing the $1 billion mark, the company is poised to expand its product offerings and offline presence, leveraging its 183 stores across India. This expansion is crucial in a largely unorganized baby care market, presenting a vast potential for growth.
Future fundraising appears promising as FirstCry continues to attract interest from major investors like SoftBank. The fresh capital will likely fuel further market penetration and enhance its valuation, potentially making it a unicorn. However, the company must navigate challenges such as competition from e-commerce giants and the need for strong branding to improve unit economics.
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