Hoopos.com, an e-commerce venture focused on retailing mother care, baby and kids products has raised funding in an early stage investment round from Helion Advisors. Although, the financial details of the investment have not been disclosed, Helion’s Ashish Gupta told Mint that it was in line with the firm’s average ticket investment, which according to the report, could be in th $3-5 million range.
According to a statement from the company, Hoopos.com intends to use the funding for ramping up the team, upgrading technology, developing fulfillment infrastructure including warehouse and logistics, marketing and building customer support infrastructure. Following the funding Gupta, who is the Senior Managing Director at Helion will join the board of Hoopos.
The company, which started operations in September, offers products across 12 categories including baby essentials, clothes, toys, travel, books and nursery furniture, among others. The collection includes brands like Chicco, Funskool, Disney and Fisher Price, in addition to private labels and boutique products. The site offers free shipping for products above Rs 149, and also offers cash on delivery. We like the multiple navigation options including the menu that lets users shop keeping in mind the baby/kid’s age and the ‘shop by department’ sidebar menu and quick links keywords.
The co-founders of the venture, Vijay Jumani and Radhika Jumani, also run a retail store chain focused on baby products by the name of ‘Appleofmyi’ in Bangalore. the other co-founders include Raveen Sastry, who was the co-founder and former-VP at Myntra.com, and Anubhav Sudha, who was earlier part of Tavant Technologies.
Hoopos.com says that it is looking at clocking a turnover of around Rs. 1.5 crore and to hit the target of 5000 transactions per month by the end of March 2012. Hoopos will compete with other baby products focused sites including Firstcry.com and BabyOye.com.Both had raised funding in the range of $2.5 to 4 million, this year.