From the Press Release:
Just4Kids Services Ltd, the parent company that owns the mycity4kids brand, has raised funding from YourNest Angel Fund, an early-stage venture capital fund.
mycity4kids is a vertical e-commerce portal focussed exclusively on local kids-related services for children up to the age of 14. Parents can visit the site to search for information, look for recommendations and pay, thereby completing the entire purchase process online. The exhaustiveness of the listings, the ability to search on the basis of locality, the child’s age, reviews and ratings and pay online or by availing the cask pick-up facility, make it a must-have tool for all parents in every city.
With 120 lac households present in the top 16 cities in India, the market for kids’ services is estimated to be worth Rs. 15,000 crores. mycity4kids is the first venture not only in India but also globally to create a unified platform for parents to find services for kids. The portal also provides a proprietary marketing and sales platform for local businesses to seamlessly promote their services, manage leads and responses and collect money online or though the cash pick-up facility.
The portal is the brainchild of Vishal Gupta, Prashant Sinha, and Asif Mohamed- who, having worked in leading companies like HUL, Pepsi, Aviva and I-flex Solutions, decided to trade in their corporate careers to help parents discover the best their city has to offer for kids.
Speaking on the funding, Vishal Gupta, Founder and Managing Director said, “We’re delighted at YourNest Angel Fund expressing confidence in our venture by making an investment in our company. The funds will primarily be used to expand our geographical presence within the top cities in India and abroad as well.”
Sunil K Goyal, CEO and Fund Manager, YourNest Angel Fund said, “The single-minded focus on the highly attractive and under-leveraged demographic segment of kids and the quality of the founding team are the two stand-out reasons for us investing in mycity4kids. We also believe that the pain-point that mycity4kids is trying to solve for parents is a universal one and the business-model therefore, can be seamlessly replicated in several large cities across different countries.”
Subsequent to the investment, Girish Shivani, Founder Director – YourNest Angel Fund will join board of mycity4kids as YourNest Angel Fund’s nominee. mycity4kids currently caters to parents in Delhi NCR and will be extended to Mumbai and Bangalore on the 15th of July. Over the next three years the service will be available in the top 16 cities in India.
About mycity4kids mycity4kids is an online marketplace for kids-related services where parents can search for information, look for recommendations and pay online or in cash. Founded with the vision 'about your child, around your home', www.mycity4kids.com unearths the best each city has to offer kids in and around their neighbourhood - from kids events to fun family outings, discounts and offers, to a comprehensive listings of products and services for children. It provides a platform for parents to access information as well as share their favourite places and most memorable experiences.
About YourNest Angel Fund YourNest Angel Fund is a SEBI registered early stage domestic venture capital fund. It invests in businesses built on vibrant, new ideas and in the opportunities opened-up by the explosive growth in entrepreneurial activities in India. YourNest plans to maximize returns by enabling portfolio companies to build scale and create value. It focuses on building a diversified portfolio of fast growing unlisted start-up companies that are attempting path-breaking use of technology or have an innovative business model or build on a scalable & SMART Idea or represent an emerging sector.
YourNest offers support, constant guidance, handholding, expertise in business strategy, and access to a wide network for entrepreneurial growth – besides funds. For details, please refer to www.yournest.in.