Cub McPaws, a Mumbai-based Augmented Reality startup, announced it has raised $800K in a Pre-Series A funding led by a Dubai-based global family office, as per YourStory report.
Angel investors that participated in the funding round are Takayuki Sugiura, CEO of Circus Capital; Daisuke Takagi, Executive Director at UBS; Motoko Tanabe, Founder of HMF Corporation; Toshiro Wakimaru, ex-COO of MedPeer Inc; and Taichi Nakamura, CEO of Venex Ltd.
Existing investor Samyakth Capital also participated in the round. Earlier in 2019, the startup had raised Pre-Seed round from Venture Catalysts.
Founded in 2018 by Abhay Bhat and Kinnar Shah, Cub McPaws is a direct-to-consumer brand that focuses on premium and comfortable merchandise for kids born after 2010. Its product line includes Magic T-shirts, a first-of-its-kind AR-enabled clothing line; and Terra, a 100 percent chemical-free and organic range of clothing.
The startup plans to use the current funding to scale up its distribution capabilities, enhance its technology offering, apart from expanding its customer base. The startup also added it is looking at Series A funding very soon and that it will also hire senior professionals.
“Cub McPaws is already a phenomenon among kids and parents across India. The new investment will help us scale our technology offering and create a complete range of products. We will explore international markets where our products have generated significant interest . We are in discussion with an ex-Facebook, Uber senior executive to head our technology team”, said co-founder Abhay Bhat.
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