Japanese investment giant SoftBank may soon make an investment in FirstCry, Pune-based online baby products retailer. The Tokyo-headquartered investment giant is set to invest $400 million for an over 40% stake in BrainBees Solutions, which owns and operates FirstCry.
This investment will value the Pune-based venture at $600-700 million. The money of the deal is expected to come in tranches, linked to financial and business performance milestones.
A person close to the deal said, "The deal was signed earlier this week and is likely to close by the month-end."
FirstCry was founded by Supam Maheshwari and Amitava Saha in 2010. It offers different categories of baby and kids products from clothing to school essentials etc from global brands such as Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney etc.