Firstcry.com (Brainbees Solutions Pvt Ltd), an online retailer selling babycare and maternity product has received a series B investment of $ 14 Million by IDG Ventures & Saif Partners. The company had received $ 4 Million by SAIF partners in its initial round of funding in May 2012. Brainbees, also sells cosmetics and personal hygiene products through Goodlife.com.
As per reports last week. it is learnt that Myntra.com has raised $20mn (Series C) , the funding being led by Tiger Global. Earlier Myntra had received $ 14 Million, from IDG Ventures and Accel Partners. Myntra is into fashion and lifestyle retail, apparels etc.
Comment:
With Series B , C funding it definitely seems that the companies have been able to make some good roadway into the business and would now look at expanding – as well as investing in technology and people. It is reported that Myntra.com would be looking at about 500 Cr. top line in FY 12-13.
Myntra.com funding may also help them in setting up their own logistics division – as has been observed in case of Flipkart, which has set up its own logistics team in key cities to ensure timely delivery to customers.