IDG Ventures India and SAIF Partners Invest $14m in FirstCry & GoodLife

IDG Ventures India led a $14 million Series B investment into Brainbees Solutions Pvt Ltd., which owns the FirstCry and GoodLife brands. SAIF Partners, the existing investor in Brainbees participated equally in the round, having earlier invested $4 million in the company in May 2011. Manik Arora from IDG Ventures India joins Ravi Adusumalli & Mukul Arora from SAIF Partners on the board of the company.

Pune-based Brainbees started operations in late 2010 and operates, an e-commerce platform in India for kids, babycare and maternity care. Brainbees has a collection of over 25,000 SKUs across and with brands such as Kimberly Clark, L’Oreal, Mattel, Revlon, Funskool and Disney. Its product catalogue includes infant accessories (diapers, toiletries, baby food, stroller, furniture), apparel, footwear, books, toys etc. for children up to the age of 15 years. Brainbees was founded by Supam Maheshwari and Amitava Saha. The founding team of Brainbees previously worked together at Brainvisa Technologies, which was led by Supam Maheshwari and had a successful exit.

Brainbees currently has one warehouse in Pune from where it ships products to over 2,000 towns and cities across India. The investment will be utilized for marketing, adding new business categories and brands, and expanding warehousing space. In addition, Brainbees will accelerate its growth in existing categories, recruit employees for expanding the supply chain and overall customer experience.

Recommended Read: Baby Boom in India? Why Flood Of Baby Product eCommerce Sites? [Complete List]

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