Firstcry.com, India's largest omni-channel retailer of baby and kids products raises a financing of $26 million from its new investors San-Francisco based Hedge Fund, Valiant Capital Partners. This financial transaction got executed under the valued advice of Avendus Capital. The event took place with the participation of its existing investors SAIF Partners, IDG Ventures and Vertex Venture Holdings. With this, the total funding raised by the Pune based company accounts to $59 million till date. "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, Co-founder & CEO, Firstcry.com. Cutting across its competitors, the company’s online portal supports offline network through franchisee stores numbering 100 across 85 cities presently and is expected increase in the next three years.
With the strong entrepreneurial leadership, it has been possible for the Firstcry.com to demonstrate its ability to build and scale-up a world-class organization and become one of the marquee e-commerce brands in India. Taking across the testimonies of successes, the company is the witness for the existence of scope for the creation of differentiated and valuable vertical focused online business that can have high defensibility against horizontal e-retailers. FirstCry's traction on its in-house brand and a 360 degree approach to own the mom and baby eco-systems shows the quality of execution of the team. However, the company's mission is to orchestrate a customer friendly environment through its quality services of providing best of the products/brands at the lowest prices with great online shopping experience, free shipping and prompt customer service across 14,000 pin codes nationwide. The overall benefit what the customer gains from Firstcry.com is a hassle free accessibility for buying nationally and internationally resourced products/brands for their little ones.