M&A

M&A

Kids-focused FirstCry invests Rs.20-Cr more in GlobalBees, raises stake to 51.68%

Inc42  

Kids-focused omnichannel company FirstCry has made a further investment of about INR 19.96 crore in its New Delhi-based subsidiary GlobalBees for 89,886 shares. With this, its shareholding of FirstCry in the startup has increased from 51.51% to 51.68% on a fully diluted basis.The investment was originally made in the form of a convertible loan and was due to be converted into Series C3 Compulsorily Convertible Preference Shares (CCPS) within two months.The further investment comes just days after the company completed its INR 146 crore investment in Globalbees. With an equity infusion of INR 73 crore, the company increased its stake in GlobalBees to 51.51% on September 11.GlobalBees had raised slightly over INR 100 crore as part of the round announced earlier last week.Founded in 2021 by Nitin Agarwal and Supam Maheshwar, GlobalBees acquires and scales D2C (direct-to-consumer) brands across categories like beauty and personal care, home essentials, kitchen, wellness, and nutrition.Globalbees reported Q1 FY26 losses of INR 20.8 crore, up 6% YoY, while revenue grew 31% YoY to INR 426.5 crore.