By Pramugdha Mamgain
The fund, BRV VI, will be used for early-stage investments in mobile software and services, fintech, and digital health.
The investment from SoftBank is likely to value FirstCry at around $600-700 million.
Dailyhunt has already raised Rs 36.9 crore in an earlier Series E2 funding round from Singapore-based venture capital firm LightVC.
The startup aims to increase its business coverage across Malaysia with plans to expand to neighbouring countries as well.
Wavemaker SEA Fund III is focused on seed-stage investments in B2B deep tech firms.
SoftBank has proposed to route the investment through a holding company created on behalf of the SoftBank Vision Fund.
The investment also marks the exit for Malaysian sovereign wealth fund Khazanah Nasional Berhad and TA Associates.
Existing investors Nexus Venture Partners and Blume Ventures also participated in the round.
The Series C was led by IVP and joined by aXiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV, and Samsung Ventures.
Drums plans to use the funds to expand its distribution and cold chain capabilities, setting up its own facility as well as for inorganic growth.