Ratan Tata has invested an undisclosed amount in baby and maternity products retailer FirstCry, marking his fourth investment since the start of 2016. FirstCry, which is owned by BrainBees Solutions, follows an omni-channel strategy of selling both through online and offline stores.
“The idea is to gain from his wisdom and it’s a vote of confidence, which boosts morale of both the entrepreneur and our team,” FirstCry Founder & CEO Supam Maheshwari told media.
The transaction will add to his growing portfolio of over two dozen investments. Tata has also invested in several other vertical retailers like UrbanLadder, Bluestone, Zivame and Kaaryah. He has also invested in Snapdeal and Paytm.
The investment in FirstCry is also the fourth bet placed by Tata in a tech startup this year.
Earlier this month, he had invested in Tracxn Technologies and followed it up with pet care portal DogSpot and online cashback and coupons venture CashKaro.
Source: The Economic Times
Image Courtesy: Financial Express
