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Online portal FirstCry.com raises $4 Million fund from SAIF
By siliconindia
Bangalore:FirstCry.com, one of Asia's largest online portal for baby products and toys and has raised $4 Million from SAIF, a private equity firm that provides growth capital.
The online portal FirstCry.com claims to receive 10,000 daily visitors and is currently doing 250 transactions a day. The website offers a range of products that target expecting mothers, parents and teenagers.
More than 4,000 products from both Indian and international brands are offered by FirstCry. The brands range from Funskool, Hot wheels, Disney and many more.
FirstCry.com was launched in November and was founded by IIM graduates, Supam Maheshwari and Amitava Saha. And targets 1,000 transactions per day in the next three months.It ships products to 26,000 towns and villages. The company offers free shipping on orders worth Rs 1000-plus and also accepts cash on delivery (CoD).The company intends to use the funding to hire employees, expand supply chain, set-up warehouses and increase product range.
FirstCry is facing many challenges in terms of infrastructure, logistics and stocksouts by suppliers. Owing to the lack of online portals online for the baby products, FirstCry will gain more demand and importance as it also offers the international brands.