BabyChakra raises $600K from Mumbai Angels, Patni Family Office and Singapore Angel Network
Online parenting and child care platform, BabyChakra has raised undisclosed amount of funding led by Mumbai Angels Patni Family Office and Singapore Angel Network. According to YourStory sources, the Mumbai based company raised close to $600K in the round. Satveer Singh Thakral from the Singapore Angel Network, Karan Maheshwari, Jatin Aneja, Kishor Ganji and Roopa Nath also participated in the round. The raised fund will be used to accelerate traction, hire top talent and launch its Android app.
Founded by Naiyya Saggi, Mitesh Karia and Mohit Kumar -- BabyChakra connects parents to services and products to make parenting a less tedious affair.
The platform primarily lets young parents to discover and select local services such as child specialists, playschools, day-cares, prenatal classes, play areas among others.Importantly, it helps parents make informed choices on local services through their proprietary MomStar program, verification and social integration.
Speaking about investment Naiyya, co-founder and CEO of BabyChakra said:
The funds raised through this round will be used primarily to hire top industry professionals for key roles and accelerate traction in our current markets. Our vision is to be the platform of choice to help Indian parents make better everyday decisions for themselves and their children. It’s great to have the backing of an incredible group of investors who believe in us and our ability to disrupt at scale.
In the last year, the company scaled to three cities - Mumbai, Bangalore and Delhi and claims to have helped more than 250K Indian parents connect to over 5500 quality local services. Currently focused on the $20 billion maternity-child market, BabyChakra helps the 30 million mums (and dads) online make crucial decisions on doctors, hospitals, cord blood banks etc.
Recommended read: BabyChakra: The One-Stop Shop for Parents
Naiyya is an alumnus of Harvard Business School and National Law School. Mitesh studied management at FMS, Delhi and worked with HSBC while Mohit is IIT, Delhi graduate and earlier served DEzignUp as a technical co-founder. Online home decor startup, Livspace acquired DezignUp in April this year.
Speaking on thesis behind funding, Karan Maheshwari, Deal Lead for Mumbai Angels, said:
We backed the team at BabyChakra for two reasons. Firstly, BabyChakra is a truly innovative product that solves a real need for young parents today: making better, more informed care decisions for their families. Secondly, the team has, in a short span of time, executed fast, shown strong traction and loyalty in users and is set to scale rapidly. We are excited to join BabyChakra on their journey to being a game-changing made-in-India venture.
BabyChakra competes with Bengaluru based ZenParent which recently raised $500K from Venture Factory (i2india Ventures).