Babychakra raises fund from Mumbai Angels and others
BabyChakra,(www.babychakra.com ) , the premier portal for young parents, has raised a round of funding (amount undisclosed), led by Mumbai Angels, Patni Family Office & Singapore Angel Network.
- This round of funding will be used to accelerate traction, hire top industry professionals and launch Babychakra's android mobile app. This is Mumbai Angels' 77th start-up investment.
June 16th 2015,
Founded in 2014, BabyChakra aims to disrupt the ways young parents in India discover & select local services such as child specialists, playschools, day-cares, prenatal classes, play areas etc. It helps parents make informed choices on local services through their proprietary MomStar program, verification and social integration.
The founding team comprises of Naiyya Saggi (Harvard Business School and a former McKinsey consultant), Mitesh Karia (FMS Delhi, formerly with HSBC) & Mohit Kumar (IIT-Delhi, DzignUp co-founder).
In the last year, they have scaled to 3 cities in India: Mumbai, Bangalore and Delhi and have helped more than 2.5 lakh Indian parents connect to over 5500 quality local services.
The Company has been recognized as one of the hottest Indian start-ups at multiple platforms, including Wharton India Economic Forum, Google Launchpad, Business World Young Entrepreneur Awards & The Exhibit Awards.
The funding round is led by Mumbai Angels and participating investors include The Patni Family Office, Satveer Singh Thakral from the Singapore Angel Network, Karan Maheshwari, Jatin Aneja, Kishor Ganji, Roopa Nath among others.
Naiyya Saggi, 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".
“We backed the team at BabyChakra for 2 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 & 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", said Karan Maheshwari, Deal Lead for Mumbai Angels.
"We are happy to be a part of the exciting business that BabyChakra is building. At Mumbai Angels we pride ourselves in identifying and partnering fantastic start-ups with the promise and ability to become the next big “Made-in-India” success stories " Said Prashant Choksey, Co-founder, Mumbai Angels.
Mumbai Angels is one of India’s largest angel networks with 200+ members across 3 active chapters; Mumbai, Delhi and Bangalore. Their portfolio comprises 77 ventures across multiple sectors focused primarily on seed and early stage companies.