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FirstCry raises $26 million from Valiant Capital and existing investors

BrainBees Solutions Pvt Ltd, which operates the online baby care products retailer FirstCry, has raised $26 million in a fourth round of funding led by the San Francisco based hedge fund Valiant Capital Partners, with participation from existing investors IDG Ventures, Ventex Venture Holdings and SAIF Partners. Previously, Firstcry had secured $15 million funding in its third round from Vertex Venture Holdings, SAIF Partners and IDG Ventures in January last year, $14 million in its second round from IDG Ventures and SAIF Partners in 2012 and $4 million in 2011 from SAIF Partners. Speaking to Medianama, the company said it will use the funds for scaling its business across mobile, online and offline channels as well as growing its private label business. The company also mentioned it plans to expand to 200 stores by the end of 2015 and will reach its target of 400 stores by 2017. Last year, FirstCry had revealed plans of increasing the number of its offline franchise stores to 100 by setting up 30 new stores by end of 2014, a target it claims to have reached. The company had also claimed then that it will set up 400 stores by December 2017. FirstCry currently offers baby care and kids products like diapers, toys, clothing, bath, skin & healthcare products, footwear, baby furniture, books and others. It claims to have more than 70,000 products from more than 400 Indian and International brands like Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber…

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