21 January, 2016, Bangalore: FirstCry becomes the fourth startup venture of this year that got an undisclosed funding from business tycoon Ratan Tata. Earlier this year, Tata had invested in Dogspot.in (an online pet portal), Tracxn (data analytic startup) and Cashkaro (a cashback and coupon site).
An exclusive ecommerce platform for baby and maternity products, FirstCry has grown as a multiple channel retailer and currently it is available on web, mobile and offline segment. Last year, Tata group for the first time put its hand out to support the startup industry of the country with its first investment in Snapdeal. After that, it was no looking back and currently, the group has invested in more than two dozen ventures. The group has made a very smart move by investing a small amount in these startups rather than going for heavy funding. With this positive move, the group has emerged as a most sought-after investor.
Speaking on the investment, Supam Maheshwari, Founder and CEO, Brainbees which runs the FirstCry said, “Our vision is to simplify parenting by creating the necessary ecosystem and we’ve become the dominant driver in this space across mobile, online and offline channels. A positive nod from a business leader like Ratan Tata is a great vote of confidence.”