Baby apparel FirstCry in talks with Alibaba, SoftBank for funding

Indian online baby product retailer FirstCry is in funding talks with Chinese e-commerce platform Alibaba and Japanese multinational conglomerate SoftBank Group. The firm is seeking at least US$100–$150 million in the deal in a move to put it at the forefront of the market, according to unverified reports. Both investing partners may participate in the funding if the deal goes ahead.

While none of the parties have released statements on the proposal, previous reports have revealed FirstCry as seeking similar investment figures over the past year.

FirstCry has raised more than $100 million since launching in 2010. The business derives the majority of revenue from a network of more than 300 stores despite the relatively small size of its offline business compared to its online presence.