Baby products e-store FirstCry has raised an additional $10 million in its fourth round of fundraising, led by the venture capital firm New Enterprise Associates (NEA) and Valiant Capital. In February this year, the company had raised $26 million, in the same round of funding, from Valiant Capital and existing investors IDG Ventures, Ventex Venture Holdings and SAIF Partners. Other than this, 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 from SAIF Partners the year before. The current round of funding brings the total amount the company has raised till date to $69 million since 2011. FirstCry will use the fresh funds to expand online, on mobile and offline as well as investing in its self-branded products. The company mentions it will add new product categories beyond apparel, to its private label business BabyHug, such as ‘Nursery’, a category that will include items like mosquito nets, baby bedding sets and pillows, blankets, baby furniture and quilts & wraps. 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. Currently the platform offers baby care and kids products like diapers,…
