Flipkart invests in parenting social network Tinystep
Tinystep, a parenting social network platform, has raised seed round from Flipkart. The startup will use the funding to develop the product, enhance user experience and engagement, accelerate company’s growth and for hiring.
Launched in September 2015, Tinystep allows users - parents - to interact on a platform where they can ask, share and connect with other parents. The startup claims to have over 10,000 parents on its platform.
“Tinystep is a vertical social network that connects people around children. We provide a vibrant platform for parents to come together, collaborate and help each other raise their children in the most effective manner. With the funding Flipkart is helping us with the required guidance to continue our excelling growth,” says Suhail Abidi, Founder of Tinystep.
Talking about the platform, he adds that whether it is about planning for a baby, being pregnant or the best breakfast for a two-year-old, information and advice from the experienced is vital. With features like Q&A Forum and individual and group chats, Tinystep attempts to make the parenting experience fulfilling. The platform has also launched new features like vaccination and growth charts to keep it more relevant.
On the funding, Nishant Verman, head of Corporate Development at Flipkart says, “This concept has great potential in the existing market, and it is the much needed tech product in the parenting domain. The core team has a perfect blend of young, energetic and talented individuals that can take this product to the next level. The child care industry holds massive potential and Tinystep being a community driven product is definitely going in the right direction towards dominating it.”
Business model
Suhail says that revenue is not on top of his mind, but the main aim is to build the community - from parents to doctors and kids-related service providers. He, however, says in the future revenue will come in through transactions on the platform.
Yourstory take
The $25 billion kids’ services market has seen the emergence of many young startups like Kidsstoppress, BabyChakra, Parenting Nation, mycity4kids and India Parenting that are servicing the varied needs of parents. Many have also raised funding in recent months.
In September last year, KIDDS, which brings together parents and providers in parenting-related fields such as experts, bloggers, kid edutainment, and other service providers, raised $500,000 from strategic investors.
In June, BabyChakra raises $600K from Mumbai Angels, Patni Family Office, and Singapore Angel Network.
In the beginning of 2016, mycity4kids raised $ 3 million from SIDBI Ventures and YourNest.
While funding is pouring in, with so many platforms emerging we expect the market to see consolidation soon.