Making its fourth investment this year, top industrialist Ratan Tata has invested an undisclosed amount in baby care products retailer FirstCry.
Earlier, the Chairman Emeritus of Tata Sons backed pet portal DogSpot.in, data analytic startup Tracxn, and cashback and coupons site CashKaro - in his personal capacity.
FirstCry, which has got a big name to its investors’ kitty, has rivals like Babyoye, which was acquired by the Mahindra group, and Hopscotch backed by Facebook's co-founder Eduardo Saverin, early-stage investor Velos Capital and LionRock Capital, among others.
FirstCry has till now raised $69 million in capital from investors including IDG Ventures India, SAIF Partners, Vertex Ventures, Valiant Capital and NEA. The brand eyes huge expansion in the near future with plans to take its store count from 150 to 700 over the next three to four years. The brand presently runs about 150 stores in 85 cities and eyes adding another 100 stores this year. It also provides franchise opportunities.
The company is also bringing into its portfolio about 200 global brands this year, and further wants to expand its Babyhug brand under which it has about 17,000 products.