India: mycity4kids raises $3m in Series A round led by SIDBI

mycity4kids, an online platform that helps multi-tasking mothers, has raised $3 million in Series A round led by SIDBI Venture Capital Ltd, a wholly-owned subsidiary of Small Industries Development Bank of India (SIDBI), the company said on Wednesday. Existing investor YourNest Angel Fund also participated in the round.

Run by Gurgaon-based Just4Kids Services Pvt Ltd, mycitykids was founded in October 2010 by Vishal Gupta and Prashant Sinha. It provides kids-related services which helps mothers to manage modern-day parenting better.

The new funding will be used for building a mobile platform for Mums. The firm is also targeting operational break-even in 12 months.

“The company has managed to achieve leadership status in this segment with limited resources and the team have demonstrated their belief through sheer persistence over the last three years. With the latest round of funding, they can build a financially viable model which we’re delighted to be a part of,” said Mahendra Lodha, VP and company secretary, SIDBI Venture Capital Ltd.

“The size and value of the Mum demographic is what made us invest in mycity4kids three years back and we’re excited by their plans to become indispensable for every Mum,” said Sunil Goyal, CEO of YourNest Angel Fund.

In 2012, the mum-focused platform received Rs 5 crore in angel funding from YourNest Angel Fund.

“Our expansion plans, in this phase, are geared towards becoming a daily-use product for every Mum”, said Vishal Gupta.

“You will see several mobile-led initiatives in that direction, starting with the recent launch of the mycity4kids Family Organizer app. The app has a shared calendar and to-do list which allows Mums to organise the kids’ schedule and enlist support from the spouse/support-system in daily parenting. Apart from this, the app helps Mums to discover resources and events for kids in the city and to learn from the shared experiences of other parent and expert blogs,” he added.

Currently, mycitykids employs 35 people, 65,000 service providers in nine cities and offers parents an access to over 4000 parenting blogs of more than 500 bloggers and experts. It only targets those Mums whose kids are below 14 years of age.

Most recently, the other player in the segment My Child App, which helps parents track developmental disorders in their child, raised $150k in seed funding from 500 Startups.

Several more players working on similar parenting concept include Babycenter, BabyChakra, Parentune, ZenParent and Parentedge.

Incorporated in 1999, SIDBi Venture Capital currently manages five funds including National Venture Fund for software and information teechnology, SME Growth Fund (SGF), India Opportunities Fund (IOF), Samridhi Fund (SF) and TEX Fund (TF), according to its website.

Also Read: 

SG Angel Network participates in $600k investment round in BabyChakra

India: Digital education provider Educomp’s lenders mull strategic debt restructuring

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.