Mumbai-based baby products company FirstCry.com is the latest Indian e-commerce company to receive funding. Also Read - E-commerce to change face of Indian merchandise business: Ratan Tata
According to Tech Crunch, the startup, which is based in Mumbai, announced that it has raised 26 million dollars led by Valiant Capital Partners. It is reported that the company altogether grabbed 55 million dollars in another round of funding following the return of its existing investors. Also Read - Myntra's app-only model: Can mobile apps emerge as sole drivers of India's e-commerce industry?
India is witnessing a record growth in its e-commerce market. Experts believe that the e-commerce market in India will be worth 43 billion dollars by the end of this decade. Also Read - E-commerce startups asking high price for parting stakes: Ratan Tata