Avendus Capital Advises Firstcry.com on Its Fund Raise From New Enterprise Associates to Close Overall Series D at USD 36 mn.

BrainBees Solutions Pvt. Ltd., the company behind Firstcry.com, India’s largest omni-channel retailer of baby and kids products closed a $10 million financing from New Enterprise Associates (NEA) to close its overall Series D round at $36 million led by San-Francisco based Hedge Fund, Valiant Capital Partners and NEA 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 $69 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.