India, March 29 -- Pune-based baby products marketplace Firstcry has raised INR 95 Cr ($13 Mn) in an equity funding round from pi Ventures through its opportunity fund I, at a valuation of $1.9 Bn or INR 14K Cr.

According to ministry of corporate affairs filings accessed by Inc42, Firstcry's parent company Brainbees Solutions Private Limited has allocated 13,58,930 shares at a premium amount of INR 697.17 per share and a nominal amount at INR 5. The company has not disclosed the use of this capital in its regulatory filings.

The development comes when the company's early backers like Chiratae Ventures, Vertex Ventures and Elevation Capital (formerly SAIF Partners) are reportedly looking to sell about 7%-9% of their stakes in the company...