Firstcry secures around $400 mn from Softbank as part of series-E funding

FirstCry has emerged as the leader in the sunrise baby and mother care sector segment, prompting rising interest of global investors

Baby and mother care products retailer Firstcry has secured around $400 million (Rs 2824.23 crore) from Softbank Vision Fund as part of its series-E funding. While the Japan-based PE fund has infused $296 million (Rs 2,120.5 crore) upfront, it has committed  another $100 million (Rs 703.71 crore) in the second tranche.

According to the financial data accessed by business intelligence platform Tofler, FirstCry’s holding entity BrainBees Solutions has allotted 73.1 million series E shares at a price of Rs 386 each to SVF Frog, a Cayman Islands-registered entity of Softbank as part of the deal.

Though, how much stake Softbank