Helion Advisors has announced an early stage investment in hoopos.com, a one-stop shop for mother care, baby and kids’ products. Bangalore-based hoopos.com offers a wide array of products across 12 categories including baby essentials, clothes, toys, travel, books and nursery furniture, among others.
The funding will be used by hoopos for ramping up the team, upgrading technology, developing fulfillment infrastructure including warehouse and logistics, marketing and building customer support infrastructure. With this investment, Mr. Ashish Gupta, Senior Managing Director, Helion Advisors, joins the board of hoopos.
hoopos has been founded by a four member team- Vijay Jumani & Radhika Jumani (co-founders of Inventis Retail, the parent of baby product stores, ‘appleof-my-i’), Raveen Sastry (co-founder and was VP – Business Development of, Myntra.com) and Anubhav Sudha (was part of the start-up team at Tavant Technologies).
Another startup in this space, FirstCry raised $4mn from SAIF Partners earlier this year and BabyOye Raises $2.5 Million Funding From Accel Partners and Tiger Global.
Like we earlier said:
..hope VC firms do not ruin this niche category (like the way they did with eCommerce as a whole) and these startups do not start selling camera, mobile phones by early 2012.
What’s your take on this category? Is this poised to grow exponentially? Or consolidation is on the cards and those who missed out on ecommerce bubble are now investing in categories that will eventually get acquired?
Recommended Read: Are VC Firms Hedging their E-commerce risk?