SAIF India invests in Firstcry.com
Perhaps better known for their China operations, SAIF Partners India, has made another bet in India’s fast growing e-commerce segment, investing $4 million in online kids and baby care products retailer, FirstCry.com.
The investment into FirstCry.com, a Pune-based start-up, is SAIF's second investment in India this year. The Delhi-based Indian team also recently closed a $3 million investment in InkFruit, an online product design and commerce company.
Founded by Indian Institute of Management graduates, Supam Maheshwari and Amitava Saha, FirstCry has signed up over 100 international and local brands of baby products including Mattel, Funskool, Hotwheels, Disney , Barbie, Zapak and offers a offers a range of over 4,000 products including diapers, skincare products and a wide selection of prams and strollers.
According to the Economic Times, the baby care market in India is worth over $5 billion market in India with around 25 million babies born every year. Early this month, Accel Partners , and Tiger Global injected $2.5 million into another online baby care products retailer called BabyOye.com.
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