E-commerce major Flipkart has invested $2 million (Rs 13.6 crore approximately) in Tinystep, the parenting social networking website said on Tuesday. The Bengaluru-based startup reportedly wants to utilise the money in increasing its product range, improving its services to provide a better experience to the customers.
Tinystep founder Suhail Abidi told PTI that Flipkart has been “a great partner” and has extended tremendous support. “It has been a nail biting year. We’ve grown as a product, as a team and have learnt to now focus our energies on the new revenue model,” Abidi said. Tinystep had received the funding early this month.
Flipkart’s Vice President (products) Ram Papatla also recognised the importance of baby care for the brand. “The investment in Tinystep will enable Flipkart to leverage Tinystep’s strong user community to build a network of influencers,” he added.
With this investment, Flipkart also hopes to boost sales of baby care products on its platform, according to Business Standard. The baby and mother care market in India is estimated to be around $50 billion (Rs 332,000 crore approximately).
This is Tinystep’s second big funding. In March last year, the firm got an undisclosed amount from Matt Glickman, the co-founder of BabyCenter, reported MoneyControl.
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