Mumbai based online store, Pre Cared which re sells pre used baby products has raised an undisclosed amount of funding from MyFirstCheque.
The e-commerce portal which was founded by Tarbez Khan in June 2011 buys durable used baby products in good condition from parents. After it is cleaned and sanitized in their warehouse the products are offered for sale on the website.
In order to make easy sourcing of the products, Pre Cared is planning to set up two warehouses in South and North with the raised funds.
Talking about his plans with the raised funding, Tarbez Khan said, “Currently we are sourcing products only from Mumbai as that is where we have our warehouse but can deliver to any part of India. Eventually we will set up 2 more warehouses in the South and North of India to source products from these areas also. We feel the sourcing market in Mumbai as of now is large enough for us to satisfy parents all over India.”
Product catalogue of the website offers an array of used baby products like Walkers, Car Seats, Prams, Toys, Cradles and Cribs etc and offers anywhere between 15-35% of the current retail price of the products depending on the product and its conditions to the sellers.
Gautam Sinha, Prahlad Rao and Monisha Advani are the founders of MyFirstCheque. This is company’s fouth investment this year the other three being in companys viz, MeriCar, Apply2Many and OfferGrid. Generally, it provides investments of upto Rs 5 lakh to Rs 25 lakh to start-up firms.
Elaborating about the investment Gautam Sinha, Partner, MyFirstCheque said, “We loved the innovativeness of PreCared as a business. They are addressing a great space and have provided the necessary twist to make available extremely high quality baby products at prices that make it competitive for a very large mass of Indian consumers. We also see a huge potential for these products beyond the metro cities of India which makes it even more exciting. As always, at the end it was Tabrez’s experience and focus that swung our decision to invest.”
Pre Cared also has a classified service where parents can list their products for sale and prospective buyers can directly get in touch with them and close the sale without the intervention of Pre Cared. The website also has an informal alliance with NGOs wherein if the parent doesn’t want to accept money for the product that he or she is selling to Pre Cared, then the money is donated on their behalf to the NGO by Pre Cared.
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