Founded in 2010 by Supam Maheshwari and Amitava Saha, FirstCry
has emerged as the leader in the sunrise baby and mother care sector segment, prompting rising interest of global investors.
Prior to this funding round, the start-up has raised about $125 million from clutch of investors such as IDG Ventures India, SAIF, Valiant Capital, Ratan Tata, Vertex Venture, and NEA.
The funds raised from Softbank are expected to be used by FirstCry
to expand both its offline and online presence as well as to strengthen its technology platform. The company posted a revenue of Rs 535 crore in FY19, which it expects to grow to around Rs 2,000 crore in the current financial year. FirstCry had acquired BabyOye’s franchise business from Mahindra for $54 million in 2017.
As part of its diversification drive, the company acquired Oi Playschool in November last year. The company now eyes to expand its playschool portfolio to more than 1,000 centres across the country in the next five years.