FirstCry raises $26 million

CHENNAI: Brainbees Solutions, which owns baby and kids-focused ecommerce site FirstCry.com, has raised $26 million from four private equity companies.
The Series D funding was led by Valiant Capital Partners, and existing investors IDG Ventures India, Vertex and SAIF Partners participated in the round, a company statement has said.
“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,” Supam Maheshwari, founder & CEO of Brainbees, said.
The company’s private label BabyHug retails apparel for children.
The company currently has over 100 FirstCry-branded franchisee stores across 85 cities in the country.
Brainbees also has distribution partnerships with over 5,000 hospitals reaching over a million new parents across the country every year, the statement said. The company recently started expanding into categories such as baby gear.