Pune: Pune based Brainbees Solutions has raised a whooping amount of $14 million in series B round of funding led by IDG Ventures. SAIF Partners who are the existing investor in the company also participated equally in the round. They have earlier invested $4 million in the company in May 2011.

As per the deal, Manik Arora from IDG Ventures India joins the board of the company along with Ravi Adusumalli and Mukul Arora from SAIF Partners. Brainbees plan to use the fund to focus on enhancing their product range, category expansion, multi-city warehousing, back end processes, marketing-in nut shell-single focus, i.e., enhancing the customer experience and generating calibrated growth.

Founded by Supam Maheshwari and Amitava Saha in September 2010, Brainbees owns the FirstCry.com and GoodLife.com brands. FirstCry is a baby care online portal that offers products from leading national and international brands for mothers, and kids. GoodLife is a beauty care e-commerce portal that offers the largest selection of health, wellness and beauty products. Today, the company estimate its value of the market to be around $10 billion.

“The FirstCry and GoodLife brands have achieved clear leadership in e-commerce for both baby and beauty products. We will extend this position into new categories. We are delighted to have IDG Ventures as an investor given their successful track-record with Internet companies globally," says Supam Maheshwari, Founder and CEO, Brainbees.

Prior to this, Maheshwari was the co-founder and CEO of Brainvisa Technologies. He holds a BE in Mechanical from Delhi College of Engineering, and PGDM from IIM, Ahmedabad. Commenting about the interest of the investors in the organization, Maheshwari adds, “Within 12-13 months, we have captured the market leadership by a huge margin, operating matrices of our business are excellent, highest number of SKUs on both portals across industry, lower customer acquisition cost by cross selling of products to two sites, inhouse built processes and demonstrating high repeat purchase behavior led to sizeable PE investment.”

Manik Arora, Founder and Managing Director, IDG Ventures India Advisors, says, “IDG is delighted to invest in Brainbees Solutions. This is over a $10 billion market, which is well placed to move online. Supam and Amitava are seasoned entrepreneurial leaders who have clearly demonstrated their ability to build and scale-up a world-class organization.”

IDG Ventures India is a technology venture capital fund in India. The fund is a part of IDG Ventures that has over $6 billion under management with over 220 investee companies and offices across Asia and North America.

Ravi Adusumalli, Managing Partner, SAIF Partners, says, “As early investors in Brainbees, we are happy to see Supam and his team grow the company at a tremendous pace. This second round of funding validates their market dominance. As active investors in Internet companies in Asia, we believe that Brainbees has all the makings of a successful company.”

SAIF Partners is an Asia-focused, sector and stage agnostic fund with over $4 billion under management. SAIF has been investing consistently in India since 2002. Their prior investments in India include MakeMyTrip, JustDial, HomeShop18, One97 Communications and several others.