#Asia Online marketplace for Indian parents mycity4kids raises US$3M Series A

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Targeting mothers with kids under 14, the startup wants five million of them to use it everyday within the next 18 months

mycity4kids, an online marketplace and community for parents in India, has raised US$3 million in Series A round of funding from SIDBI Venture Capital, the VC arm of the Small Industries Development Bank of India, and Gurgaon-based YourNest Angel Fund.

Launched in 2010, mycity4kids is an online marketplace where parents can search for information related to kids services, look for recommendations and make a booking by either paying online or using cash-on-delivery.

The mother-centric website has cultivated a community of blogger mums and parenting experts who generate content that has helped it garner 2.5 million page views and one million visitors monthly.

The startup has listed 75,000 service providers across nine cities, including Bangalore, Mumbai, Pune, Hyderabad and Chennai.

In the next 18 months, mycity4kids is aiming to have five million mothers use it everyday. It is also targeting to break even in operational costs in the next 12 months.

“Our expansion plans are geared towards becoming a daily-use product for every mum. You will see several mobile-led initiatives in that direction, starting with the recent launch of the mycity4kids Family Organiser app,” said  CEO Vishal Gupta.

Also Read: Get queries about your little one answered by other parents on InstaB

The app will have a shareable calendar and a to-do list. The calendar will be viewable to both mother and child, allowing the former to plan the schedule of the latter.

The startup claims to have generated approximately US$600,000 (INR 4 crore) in revenue from 2014 to 2015.

Brand-sponsored blogging constitutes 45 per cent of this revenue, with clients including Kellogg’s, Amazon, Dettol, P&G, Disney and Flipkart, according to mycity4kids. About 50 per cent comes from advertisements bought by small businesses, and the rest comes from ticketing of kids events.

mycity4kids will expand its sales team from three to 16 cities to grow these revenue streams.

“The size and value of the mum demographic is what made us invest in mycity4kids three years back and we’re excited by their plans to become indispensible to every mum,” said Sunil Goyal, CEO of YourNest Angel Fund.

Also Read: Indian app for teachers and parents Knit secures seed funding

Image credit: Shutterstock

The post Online marketplace for Indian parents mycity4kids raises US$3M Series A appeared first on e27.

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