Matrix Partners invests Rs 45 cr in Kids Clinic

Investment firm Matrix Partners India has invested Rs 45 crore in Kids Clinic India Private Ltd, provider of maternity and infant care under the brand ‘Cloudnine.'

This is Cloudnine's first round of external funding, and the company will utilise the funds primarily to increase its footprint across major Indian cities. “With this funding, we will be setting up three more centres across Bangalore in the next three months, and are also looking at starting Cloudnine and Sure Fertility in Mumbai, Chennai and Coimbatore,” Dr R Kishore Kumar, Managing Director and co-founder, Kids Clinic India Pvt Ltd said at a press conference today.

Matrix Partners India will help Cloudnine in expansion strategies and adopting best practices, Mr Avnish Bajaj, Managing Director and co-founder, Matrix Partners, India said. He, however, did not share details of Matrix's equity stake in Kids Clinic but said it now holds “significant minority stake” in the company.

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