The investment will fuel marketing, team expansion, and R&D to scale up the business significantly
New Delhi: Plant-based kid’s clothing brand Kidbea has raised $1 million in funding in the Pre-series A round led by early-stage investment firm Venture Catalysts, a release by the company said on Monday.
The funding round saw involvement from Agility Ventures and BestVantage Investments, as well as notable figures in the industry such as Sandeep Agarwal and Upasana Agarwal, founders of Droom, Ashok Bahadur, alongside a group of experienced angel investors, and Hiro Mizushima, a well-known celebrity actor in Japan, the release added.
Swapnil Srivastav, Cofounder of Kidbea said, “The funding signifies a major milestone in our journey to turn Kidbea into a Rs 500 crore brand within the next 3 years. This funding provides us with the means to improve our sustainable offerings, extend our global presence, and persist in redefining children’s fashion.”
Founded in 2021 by Swapnil Srivastav, Mohammad Hussain, and Aman Kumar Mahto, Kidbea specializes in creating bamboo plant-based, skin-friendly, and comfortable children’s apparel. Kidbea’s products effectively tackle issues such as discomfort, skin rashes, and food spillage in newborns by providing GOTS (Global Organic Textile Standard) certified clothing that is environmentally friendly and gentle on children’s skin.
Kidbea will use the funding to boost its marketing and branding initiatives, expand its team, and improve operations. Additionally, a strategic portion of the funds will be allocated to research and development and technology to maintain a leading position in the rapidly evolving children’s fashion industry.
Kidbea has a presence on all major online platforms and is available in over 30 partnered stores located in premium children’s hospitals. Additionally, Kidbea has expanded its global reach to include the UAE, Bahrain, and Australia. The brand’s varied product portfolio features over 250 SKUs, encompassing kids’ rompers, bodysuits, reusable cloth diapers, soft toys, and accessories.
On the overall opportunity and growth potential, Founders added that Kidbea posted an impressive 8X revenue growth in FY-23 demonstrating the brand’s growing appeal in the burgeoning kidswear segment that is pegged at $16.4 billion.
Striving to evolve into a Rs 500 Crores brand within the next three years, Kidbea is on a trajectory of growth. The company’s dedication to sustainability and quality, along with the strategic deployment of its recent funding, positions Kidbea to further its expansion and solidify its position as a frontrunner in the global children’s fashion industry.
