Babyoye.com raises $2.5 Million From Accel Partners
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Bangalore: Accel Partners and Tiger Global have invested $2.5 million in Mumbai-based Nest Childcare Services, which runs BabyOye.com, an online baby products store, reports DealCurry. The company will use the funds to hire people, expand its supply chain, build warehouses and increase product range to include 20,000 items by the end of this year. BabyOye was founded in 2010 by Sanjay Nadkarni and Arunima Singhdeo. It offers over 4000 Indian and imported baby products across categories, like diapers, bath and skincare, health and safety products. The company has tied up with more than 80 brands like Johnson & Johnson, Hauck, Graco, Medela, Avent, Chicco, Fisherprice, farlin, Pampers, and Huggies, among others. It also offers free home delivery for orders above Rs 2,000. Babyoye.com claims that it receives 1,000 daily visitors and has over 25,000 fans on Facebook. Hyderabad-based Hoorayy Technologies, which operates ecommerce website LootMore.com, launched Kidloo.com, an online store for baby and kid products targeting the 0-12 year age group. According to a report by Internet and Mobile Association of India (IMAI), the e-commerce industry is expected to grow by 47 percent to reach 46, 000 crore in 2011.

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