Flipkart Invests US$2Mn In Parenting Social Network Startup TinyStep
Bengaluru-based parenting social network startup, Tinystep running under WeHive Technologies Pvt. Ltd., has raised US $2 Million funding (about INR 13.6 crore) from e-commerce major Flipkart.
Earlier Tinystep received seed investment from Flipkart itself in January 2016, In September last year, the e-commerce firm put in INR 10.6 crore ($1.58 million) in the parenting social network through its Singapore-based subsidiary firm Flipkart Logistics Pvt. Ltd.
In 2014, it raised INR 3.2 crore ($501,000) in seed funding from Flipkart soon after its launch.
The firm also raised capital from Silicon Valley entrepreneur and investor Matt Glickman in March last year.
The raised capital will be utilised to build its product and bring young or soon-to-be parents on board and expand its service offering.
Ram Papatla – VP Product at Flipkart and Tinystep Board Member said, “Tinystep has a great team which has built strong community-focused features, including chat with trusted parents on the platform, one stop location to store and share all baby pictures etc, which are driving user adoption.We believe they are on their way to build a truly differentiated content-rich social network for parents. Baby care is an important category for Flipkart and the investment in Tinystep will enable Flipkart to leverage Tinystep’s strong user community to build a network of influencers”
Parenting social network startup Tinystep was founded by Suhail Abidi in September 2015 in Bengaluru that provides a free and comprehensive platform to connect parents with doctors, child service providers, and other parents globally.
“We’ve grown as a product, as a team and have learnt to now focus our energies on the new revenue model. Flipkart has been a great partner and supportive of us in all our endeavours,” said Suhail Abidi, founder of TinyStep.
The app has features like posts, multiple chat options, and a public forum and serves a few fundamental needs of parents, especially moms – the need to connect, ask, and share with other parents going through the same phase in life.
The mother and baby care market is a USD 50 billion dollar industry and continues to grow at an strong rate.