Mycity4kids raises $3M in Series A funding
Gurgaon-based startup Mycity4kids, a parenting blog and kids events discovery site, has raised $3 million (around Rs 20 crore) in Series A funding from SIDBI Venture Capital Ltd and existing investor YourNest Angel Fund.
The funds will be deployed to further strengthen its mobile platform, it said in a statement.
"Our expansion plans, in this phase, 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 Organizer app," said Vishal Gupta, CEO of Mycity4kids.
The Family App has a shared calendar and to-do list which allows mums to organise their kids' schedule and enlist support from the spouse/support-system in daily parenting. 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. The product pipeline includes a mum-specific, group-chat platform which is integrated with the calendar and to-do list.
"The size and value of the mum (mother) demographic is what made us invest in Mycity4kids three years back and we're excited by their plans to become indispensable for every mum," said Sunil Goyal, CEO of YourNest Angel Fund.
Just4Kids Services Pvt Ltd, which runs Mycity4kids, had raised an undisclosed amount in angel funding from YourNest Angel Fund in 2012.
Mycity4kids is an online platform that 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 claims to have 2.5 million page views and a network of 700 bloggers and 75,000 service providers listed across nine cities.
The company was founded in 2010 by Vishal Gupta, Prashant Sinha and Asif Mohamed. An IIM Bangalore alumnus, Gupta has previously worked with Asian Paints, Hindustan Lever and Aviva Life Insurance. A Times School of Marketing alumnus, Sinha previously worked with The Times of India, Pepsico India Holdings and Aviva Life Insurance. Mohamed is an IIT Delhi alumnus and had earlier worked for Citicorp Information Technology Industries, i-flex Solutions, Karna Softek India and Cranes Software.
The company claims to have clocked a revenue of Rs 4 crore in 2014-15. Its brand-sponsored blogging segment contributed to 45 per cent of its revenue and another 50 per cent came from small businesses advertising their services on the platform while ticketing of kids events accounted for the rest.
It is aiming to break-even operationally in the next 12 months.