Gurgaon-based online parenting platform mycity4kids has raised $3 million from SIDBI Venture Capital Limited and YourNest Angel Fund.
Lunched in October 2010, the platform helps multi-tasking mothers manage the task of modern-day parenting better.
Sunil Goyal, CEO of YourNest Angel Fund said, “The size and value of the Mum demographic is what made us invest in mycity4kids 3 years back and we’re excited by their plans to become indispensable for every Mum”.
The startup broadly carries focused Mum-focused content for kid’s resources and events, suggestion from Mommy blogger and Parenting experts in the country.
The portal attracts a million parents every month and has 700 bloggers and 75,000 service providers listed across 9 cities.
The startup aims to target the 50mn plus active internet user mothers in the country and doubling every 3 years.
“Our expansion plans, in this phase, are geared towards becoming a daily-use product for every Mum”, said Vishal Gupta, CEO of mycity4kids.
“You will see several mobile-led initiatives in that direction, starting with the recent launch of the mycity4kids Family Organizer app”. The product pipeline includes a Mum-specific, group-chat platform which is integrated with the calendar and to-do list. “This is our way of ensuring that the job of parenting never overtakes the joy of parenting”, he added.
“This round of funding will take care of the capital requirement for the next 24 months and the key milestones are to have 5mn Mums use the platform every day in the next 18 months and to achieve operational break-even in 12 months,” said the company in a statement.
BW Reporters
The author is Senior Correspondent with BW Businessworld
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