Chennai-based baby care startup Baby Amore announced on Monday that it has raised an undisclosed sum in external funding from GetVantage, a revenue-based finance fintech platform and marketplace.
Founded in 2019 by Hameed Imthad and Abdul Wahab, Baby Amore offers “eco-friendly, organic and sustainable” baby products that are safe for newborns and toddlers. Currently, the company sells over 100 brands and has 2,000 SKUs through its online store. He recently opened his first concept store in Chennai.
The company plans to use GetVantage funding to grow its business by providing customers with an omnichannel shopping experience. He also wants to focus on his branding strategy. It also aims to expand its concept stores to more metropolitan cities and integrate international brands with similar ideals on its e-commerce platform.
“As a millennial parent, I found myself being more careful with the products I chose for my babies, but recognized the gap in the availability of long-lasting and safe baby care products. That’s how Baby Amore was born,” said Hameed, co-founder of Baby Amore.
Abdul Wahab, the company’s other co-founder, added, “After being a digital first brand for over two years, we decided to expand our channels to deliver a concept-driven experience for our customers. We are delighted to be supported by GetVantage in the field of revenue-based finance.
Bhavik Vasa, Co-Founder and CEO of GetVantage, said, “We are constantly looking for brands and companies that work in a niche market and unique ideas. Baby care is one such industry with several white spaces that need attention. “With the increase in nuclear families and working parents, it becomes crucial and essential for parents to ensure that their children are safe. Baby Amore is still standing, innovating and making baby care more sustainable and safer. We are excited to support the team with expertise beyond the capital and be part of their exciting journey ahead,” said Vasa.
As the first digital brand, in its first year of operation, the company sold 30,000 products. In 2021, the company recorded revenue of ₹3.5 crore, a growth of 70% from the previous year. As the baby care industry is poised to grow exponentially over the next five years, Baby Amore expects to achieve a revenue of ₹40 crore by 2025 and have a chain of 50 concept stores.
January 24, 2022