Precared.com – a site that buys and sells pre-used baby products has raised an undisclosed amount in seed funding from MyFirstCheque, a seed fund investor in startup ventures. Precared.com buys pre-used, durable baby products and sells those after cleaning and sanitising them. This is the fourth investment by the firm, after Mericar.com, apply2many and OfferGrid.com, and the first in 2012.
Launched in June 2011, Pre Cared is an initiative by Kerfuffle Enterprises and deals in buying and selling of pre-used baby products. Tabrez Khan, owner of Precared.com said, “We started in June 2011 and initially, the traction was not that good. But from November-December onwards, we are able to get some business and adding some 15-20 customers a month. It’s less that what’s expected, but we have been able to maintain these numbers so far. We are also trying to push this concept because there is scope.”
Precared.com plans to utilize the seed funding to build inventories, operations and promotions. At present, the company operates only in Mumbai but will soon expand its warehouses in northern and southern India. Also, what differentiates the site is the brand value of the products, along with the discount pricing. Precared is offering good brands at less than half the market rates.
Gautam Sinha, Partner at MyFirstCheque said, “We loved the innovativeness of Precared as a business. They are addressing a great space and have provided the necessary twist to make available high quality baby products at prices that make those competitive for a very large mass of Indian consumers. We also see a huge potential for these products beyond the metro cities of India, which makes it even more exciting.”
MyFirstCheque is a seed fund that helps startups and budding entrepreneurs by providing the initial investment in the range of 5-25 lakhs, apart from mentoring them. It was launched in December 2010 by Gautam Sinha, Prahlad Rao, and Monisha Advani.