Lahore-based online retailer for baby products is reported to have raised $250,000 in a seed round of funding. The funding round was led by Singapore-based High Output Ventures with Pakistan-focused VC Karavan, US-based Virtual Force and other angel investors from the Middle East.
Started 2014 by Irfan Ahmed, Baby Planet sells baby products ranging from wipes and diapers to strollers and cribs, through its online platform.
Irfan Ahmed, the founder and CEO of Baby Planet said fresh funds will be ploughed into a startup to increase its market share in Indonesia, “It will help us further solidify our position as one of the leading baby products online retailer in the country.”
Usman Sheikh, the Managing Director of High Output Ventures, said, “Irfan has built the foundations for a company that stands to be one of the leading baby e-commerce companies in Pakistan. We look forward to supporting him in achieving that goal.”
Meenah Tariq, a Partner at Karavan, said, “Irfan is a resilient and home-grown entrepreneur. He has a deep understanding of his sector and is constantly trying to improve. We are proud to have him and Baby Planet be a part of Karavan.”