Mycity4kids raises fund from existing investors

mycity4kids

Mycity4kids, an online start-up for working mother, has raised fresh capital from one of its existing investors and others. The amount raised remains undisclosed.

Queries sent by Entrackr to co-founder of Mycity4kids, Vishal Gupta, regarding funding remains unanswered till publishing of this news report.

Mycity4kids helps multi-tasking mothers manage the task of parenting better with mum-focused content, which includes hyper-local discovery platform for kid’s resources and events as well as a community of mommy bloggers and parenting experts. It majorly harnesses the wisdom of the Mum community to provide them with inspiration, hope, comfort and knowledge in their parenting journey

The firm boasts to have 6 million monthly page views and a network of 3,500 bloggers. It claims to be largest platform for mums. The company was founded in 2010 by Vishal Gupta, Prashant Sinha and Asif Mohamed.

In January 2016, Mycity4kids raised $3 million (close to Rs 20 crore) in a Series A funding round from SIDBI Venture Capital Ltd and existing investor YourNest Angel Fund.

In 2012, the start-up had raised an undisclosed amount in angel funding from YourNest Angel Fund. YourNest holds close to 40% stake in the firm and SIDBI holds around 10%. For the Series A round, the company was estimated to be valued at around $5-5.5 million.

According to the filings with the Registrar of Companies (RoC), mycity4kids garnered revenues of Rs 5.05 crore in FY 2013-14, Rs 3.71 crore in FY 2014-15 and Rs 2.11 crore in FY 2015-16. However, loss for the company kept increasing from Rs 1.3 crore in FY 2014-15 to Rs 4.1 crore in FY 2015-16.

Mycity4kids claims that in the year 2017, its revenue will grow 3.5 times.

The app also enables mums to discover resources and events for kids in the city and to learn from the shared experiences of other parents and expert blogs. In the same segment, BabyChakra and ZenParent are other key players.

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