Avendus Capital Advises FirstCry.com on Its USD 26 mn Fund Raise From Valiant Capital Partners and Existing Investors.
BrainBees Solutions Pvt. Ltd., the company behind Firstcry.com, India’s largest omni-channel retailer of baby and kids products closed a $26 million financing led by San-Francisco based Hedge Fund, Valiant Capital Partners with participation from existing investors SAIF Partners, IDG Ventures and Vertex Venture Holdings. This is the fourth round of financing for the Pune based company and takes its total funding to $59 million till date. FirstCry has been able to build a strong and dominant position in its category, in a highly capital efficient manner. Unlike its peers, the company's online platform is supported by an offline network of franchisee stores that currently number over a 100 across 85 cities which is expected to expand to over 400 stores in the next 3 years.
Avendus Capital was the sole financial advisor to this transaction.
Firstcry.com
The current funding will be used to scale across channels, online, mobile and offline, and invest in growing the private label business.
This deal marks the 12th deal closure in the current fiscal year for Avendus in the Digital and Technology space. Avendus is a leading advisor in the Digital & Technology sector and has advised on 35+ deals in the past 5 years. Last year the firm has concluded 31 deals across various industries and was amongst the top two financial advisors by overall number of deals in India (as per Mergermarket for CY 2014).
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