Brainbees Solutions, the owner of mothercare store FirstCry, has received an initial $150m from SoftBank Vision Fund as part of a previously revealed $400m funding round.
Brainbees Solutions, the India-based operator of childcare products retailer FirstCry, has secured $150m from the Vision Fund, managed by internet and telecommunications conglomerate SoftBank, VCCircle reported today citing a regulatory filing.
The investment, made by the Vision Fund rather than SoftBank directly as reported on Friday, is the first tranche of a round with a $400m target. FirstCry was valued at $850m for the first close, with the full round set to value the business at $975m to $1.1bn.
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Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
