Chennai-based baby-care startup Baby Amore, on Monday, announced that it has raised an undisclosed sum in external funding from GetVantage, a revenue-based financing 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 more than 100 brands and has 2,000 SKUs through its e-commerce store. It has recently opened its first concept store in Chennai.
The company plans to utilise the funding from GetVantage to expand its business by providing customers with an omnichannel shopping experience. It also wants to focus on its brand-building strategy. It also aims to expand its concept stores to more metro cities and bring in international brands with similar ideals on its e-commerce platform.
“As a millennial parent, I found myself being more cautious of the products I chose for my babies but recognised the gap in the availability of sustainable and safe baby care products. That’s how Baby Amore was born,” said Hameed, Co-founder, Baby Amore.
Abdul Wahab, the other Co-founder of the company added, “After being a digital-first brand for over two years, we decided to expand our channels to provide a concept-driven experience to our customers. We are glad to be backed by GetVantage in revenue-based finance.”
Bhavik Vasa, Co-founder and CEO of GetVantage, said, “We are constantly looking for brands and businesses that are working on a niche market and unique ideas. Baby care is one such industry with several white spaces that needs attention.” “With rising nuclear families and working parents, it becomes crucial and essential for parents to ensure that their kids are safe. Baby Amore is always on its feet, innovating and making baby care more sustainable and safer. We are excited to support the team with expertise beyond the capital and be a part of their exciting journey ahead,” said Vasa.
Being a digital-first brand, in its first year of operations, the company sold 30,000 products. In 2021, the company clocked a revenue of ₹3.5 crore, a 70 per cent growth from the previous year. With the baby care industry poised to grow exponentially for the next five years, Baby Amore expects to achieve a revenue of ₹40 crore by 2025 and have a chain of 50 concept stores.