<p class="title">FirstCry, the largest retailer of baby products, has received the first tranche of Rs 1,065 crore out of the total committed fund of Rs 2,824.2 crore from SVF Frog (Cayman) Limited.</p>.<p class="bodytext">According to a report accessed from business intelligence platform Paper.vc, Brainbees Solutions Pvt Ltd, the holding company of FirstCry, on Friday issued Series 'E' equity shares having a par value of Rs 5 each at a premium of Rs 381 as partly paid shares to SVF Frog (Cayman) Limited.</p>.<p class="bodytext">The Pune-headquartered company was founded in 2010 by Supam Maheshwari and Amitava Saha. It flourished in the past eight years despite heavy competition from Flipkart and Amazon India.</p>.<p class="bodytext">The company cemented its leadership position by acquiring the Mahindra Retail-owned Babyoye in 2016. </p>.<p class="bodytext">FirstCry has raised more than $100 million from Mahindra, IDG Ventures India (now Chiratae Ventures), New Enterprise Associates, SAIF Partners, Vertex Ventures and others.</p>.<p class="bodytext">The baby care company has also set up a network of more than 300 stores across the country. But the company's major revenue source is the online format.</p>.<p class="bodytext">The company is also in talks with China’s Alibaba Group Holding Ltd and Japan’s SoftBank Group Corp, among others, to raise at least $100-$150 million as it seeks to cement its market leadership.</p>.<p class="bodytext">According to a report, the company reduced losses by 86% to Rs 54.55 crore in fiscal 2018 from Rs 393.24 crore in FY17.</p>
<p class="title">FirstCry, the largest retailer of baby products, has received the first tranche of Rs 1,065 crore out of the total committed fund of Rs 2,824.2 crore from SVF Frog (Cayman) Limited.</p>.<p class="bodytext">According to a report accessed from business intelligence platform Paper.vc, Brainbees Solutions Pvt Ltd, the holding company of FirstCry, on Friday issued Series 'E' equity shares having a par value of Rs 5 each at a premium of Rs 381 as partly paid shares to SVF Frog (Cayman) Limited.</p>.<p class="bodytext">The Pune-headquartered company was founded in 2010 by Supam Maheshwari and Amitava Saha. It flourished in the past eight years despite heavy competition from Flipkart and Amazon India.</p>.<p class="bodytext">The company cemented its leadership position by acquiring the Mahindra Retail-owned Babyoye in 2016. </p>.<p class="bodytext">FirstCry has raised more than $100 million from Mahindra, IDG Ventures India (now Chiratae Ventures), New Enterprise Associates, SAIF Partners, Vertex Ventures and others.</p>.<p class="bodytext">The baby care company has also set up a network of more than 300 stores across the country. But the company's major revenue source is the online format.</p>.<p class="bodytext">The company is also in talks with China’s Alibaba Group Holding Ltd and Japan’s SoftBank Group Corp, among others, to raise at least $100-$150 million as it seeks to cement its market leadership.</p>.<p class="bodytext">According to a report, the company reduced losses by 86% to Rs 54.55 crore in fiscal 2018 from Rs 393.24 crore in FY17.</p>