Pune-based online baby products retailer Firstcry may soon raise $100-150 Mn funding from new and existing investors. The company has reportedly revived its talks with Temasek Holdings and is also in talks with Chinese Internet giant Tencent and another Chinese investment firm for the next round of fundraising.
Earlier, Firstcry and Temasek had held discussions, which fell apart due to differences over valuation. The company has now also appointed Morgan Stanley as its investment bank for the deal.
FirstCry, launched in 2010 by Supam Maheshwari and Amitava Saha, offers different categories of Baby and Kids products from clothing to school essentials etc from global brands like Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney etc.
The company has expanded its parent base to over 4 Mn and a footprint of over 300 stores spread across 125 cities.
Earlier, the company had raised $34 Mn in equity from the Mahindra Group, Adveq (a Large Pvt Equity Fund) and Kris Gopalakrishnan. In total, the startup has raised more than $100 Mn and is backed by investors such as IDG Ventures India, SAIF, Valiant Capital, Ratan Tata, Vertex Venture, and NEA.
At the time of raising last funding last October, FirstCry also acquired BabyOye’s franchise business from Mahindra for $54 Mn.