Baby Planet, an online retailer for baby products, has received $250,000 in its maiden seed round. High Output Ventures, the Singapore-based accelerator program, led the round. According to Menabytes, the investment was made by High Output Venture’s seed arm.
Pakistan-focused venture capital platform, Karavan, also took part in the round, followed by the US-based Virtual Force and other angel investors from the Middle East.
Irfan Ahmed, had launched Baby Planet in 2014. The platform sells almost every baby product ranging from wipes and diapers to cribs and strollers online. They deliver their products all over Pakistan and offer free shipping on any order over Rs. 1500.
Without giving away the exact numbers, Irfan revealed that their annual turnover is in seven digits of US dollars. He said that the startup witnessed a surge in sales since the start of the coronavirus pandemic this February.
The founder of Baby Planet now aims to invest in his startup to scale its growth across the country.
It will help us further solidify our position as one of the leading baby products online retailer in the country.
He is also planning to launch mobile apps for both iOS and Android platforms.
Commending Irfan Ahmed’s efforts, the managing director of High Output Ventures, Usman Sheikh, 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, praised the CEO of Baby Planet for his resilience. She said that Irfan is a ‘home-grown entrepreneur’ who has developed a deep understanding of this sector.