Latest Business News - Bengaluru-based social network for parenting, TinyStep has raised $2 million in funding from India's largest e-commerce marketplace Flipkart.
The firm which received a seed investment from Flipkart in January 2016 said it will utilise the fresh funding to build its product, bring young or soon-to-be parents on board and expand its service offering.
"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.
Flipkart made the investment in an effort to boost sales of baby care products on its platform, tapping the estimated $50 billion baby and mother car market in India. Moreover, the e-commerce company is looking at building a network of influencers.
"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," said Ram Papatla, Vice-president at Flipkart and TinyStep's board member.(Read More)
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