India-based babycare product retailer FirstCry has raised $26m in a series D round backed by IDG Ventures India, a corporate venturing affiliate of technology research and media company IDG, the Economic Times reported yesterday.
The round was led by hedge fund Valiant Capital Partners and included Vertex Venture Holdings, the venture capital vehicle of Singapore’s sovereign wealth fund Temasek Holdings, and SAIF Partners.
Brainbees Solutions, the parent company of FirstCry, has now raised $59m in total. IDG first invested in the company’s $14m series B round in 2012, and returned for a $15m series C round in 2014.
FirstCry operates a network of physical franchise stores across 85 cities, as well as an e-commerce site. It will use the latest funding to expand its range of stores to 400 cities over the next three years, to advance in its private label business and to scale its online operations.