Cardiovascular surgeon Dr Shriram Nene also participated in the funding round
Kidbea said the funding was part of its ongoing Series A round in which it is looking to raise $2 Mn
Founded in 2021, the omnichannel kidswear brand offers spill-proof and sustainable clothes made from bamboo for children
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D2C kidswear brand Kidbea has raised funding from Innov8 founder and angel investor Ritesh Malik, Nazara Technology founder Nitish Mittersain, and cardiovascular surgeon Dr Shriram Nene.
Kidbea cofounder Swapnil Srivastav took to LinkedIn to make the announcement but didn’t disclose the funding amount.
In a statement, the startup said that the funding was part of its ongoing Series A round. Kidbea is looking to raise $2 Mn in this round, which will see participation from investors based in Dubai, Oman, Japan and the US. The funding round is expected to close in the next 2-3 months.
The startup intends to use the funds for team expansion and for research and development (R&D).
Founded in 2021 by Aman Kumar Mahto, Mohammad Hussain, Ankita Rani and Srivastav, Kidbea is a kidswear brand which claims to offer spill-proof and sustainable clothes made from bamboo for children. It also sells soft toys and kids’ accessories like feeding bottles and nibblers.
The startup sells its products via its own website, ecommerce marketplaces like Amazon, Flipkart, and AJIO. Besides, it also has offline stores.
In addition to India, the startup has a presence in the UAE, Australia, and Bahrain.
Kidbea successfully raised over $1 Mn in pre-Series A funding round from investors like Venture Catalysts, Agility Ventures, and Droom Founders, alongside a Japanese actor named Hiro Mizushima.
The startup claimed its revenue stood at INR 23 Cr in the financial year 2023-24 (FY24).
Kidbea is also planning to launch two new sub-brands under the Kidbea umbrella – a plant-based skincare brand for kids and a plant-based diapers and wet wipes brand.
The startup competes against the likes of FirstCry, Hopscotch, Cub McPaws, and Peppermint and global players like PatPat and Primary in the kids’ clothing segment.
The children’s apparel and accessories market is a key part of the country’s fast growing fashion ecommerce and is expected to reach a size of $32 Bn by 2030. As a result, the segment has been receiving a lot of interest from investors.
Last month, online kidswear startup Includ raised $1.5 Mn (around INR 12.5 Cr) in a seed funding round led by Incubate Fund Asia in April.
Last year, Hopscotch raised $20 Mn in a funding round led by Amazon. Meanwhile, Reliance Retail acquired a 51% stake in Ed-a-Mamma, Alia Bhatt’s kid and maternity-wear in the same year.
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