Online maternity and infants focused e-store CHERISH Maternity has raised an undisclosed amount of funding as part of its angel round from Rehan Yar Khan, Blume Ventures, Rajan Anandan, Sunil Kalra, Farooq Oomerbhoy and others.
The online portal which started in 2011by Arathi Kuppu is run by Bangalore-based Cherish Life Products Pvt Ltd. The funds raised by the company will be used to expand its product catalogue and service offerings.
CHERISH Maternity provides Indianized Maternity, Motherhood and Infant products and services under the 'CHERISH' brand. It offers collection of pure Cotton Apparels (kurtis, frocks, skirts, denims, dungrees etc) and accessories (pillows, belts etc), Nightwear, Baby shower gifts.
Yar Khan, one of the angel investors who joins the board, said in the press release, reports yourstory.
Increasing number of double-income families, untapped market opportunity and lack of quality products in traditional retail formats are driving venture capital (VC) players to shop online for start-ups in the baby and kids products space. E-commerce sites specifically targeting kids’ products have mushroomed in the Indian online space over the last year.
Last year, Babyoye.com raised $2.5Mn from Accel Partners and Bangalore based hoopos.com raised funding from Helion Venture Partners. Hushbabies, Babybox, Kidloo, Babeezworld are similar players in the market.In fact, Assocham predicts the overall kids’ retail market to touch Rs 80,000 crore in next three years. The research results showed that 20 per cent of the people who shopped for baby products chose the online route in the growing Indian e-tail market. Overall, the baby and kids market in India is pegged at over $5 billion, growing at 20-25% a year.
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