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According to the sources aware of the development, FirstCry, the baby and maternity products online podium, is in advance talks with its investors to close another round of funding. If it manages to pull the deal of successfully, then the company will be in for a bounty of US $75 million.
The company focuses on providing a huge collection of maternity wears such as nursery accessories, diapers, clothes for kids till the age of nine, toys, school gear, prams, strollers, car seats. FirstCry reveals that currently it has a massive range of more than 200,000 baby and kids products from almost 2,000 plus brands that include Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, FisherPrice, Mee Mee and others.
Earlier, the startup had raised around US $26 million funding in February. The amount was raised by Brainbees Solutions Pvt. Ltd., the company that runs FirstCry, from its existing investors including US-based Valiant Capital Partners.
IDG Ventures India, Vertex Ventures and SAIF Partners, the other investors in the company, also participated in the round. FirstCry has raised $95 million in capital so far from investors including IDG Ventures India, SAIF Partners, Vertex Ventures, Valiant Capital and NEA.
FirstCry, which started as an exclusive e-commerce platform, has in recent times evolved into a multi-channel retailer and is currently available on the web, mobile and offline, through franchised stores. There are about 150 FirstCry-branded franchise stores across 85 cities in India. It also has distribution partnerships with over 5,000 hospitals.
