Baby products retailer FirstCry has raised Rs 92 cr from Singapore’s Temasek Holdings and existing investors IDG Ventures & Saif partners.
The company, founded by Supam Maheshwari, has raised $33 mn so far. The investment was made through Temasek’s subsidiary Vertex Venture Management.
While it is early days for e-commerce in India, the hybrid model of having an online and offline presence is slowly gaining traction.
IDG Ventures India led a $14 million Series B investment into Brainbees Solutions Pvt Ltd., which owns the FirstCry and GoodLife brands in February 2012 (GoodLife was shutdown in October, 2013). In April 2011, the company had raised $4 mn funding from SAIF Partners.