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Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over

EntrackrEntrackr · 2m ago
Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over
Medial

Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. Brainbees Solutions Limited, the parent company of FirstCry, has announced a key leadership change at its subsidiary, Globalbees Brands Private Limited. Nitin Agarwal, who served as the CEO and director of Globalbees Brands, has stepped down from his role due to personal reasons. According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. He will, however, support transition activities until May 23, 2025. Stepping into the role is Anuj Jain, who has been appointed as the new CEO of Globalbees Brands and designated as a senior management personnel of the company. Jain currently serves as the chief business officer (CBO) of FirstCry’s pre-school segment and senior vice president of marketing. A part of the company’s leadership team since July 2012, Jain brings over 23 years of industry experience, having previously worked at ITC and L'Oréal. E-commerce roll-up firm GlobalBees last raised $18 million in a debt round from Avendus in February 2024. To date, the company has secured over $270 million in funding, including a $111 million Series B round in December 2021, which propelled it to unicorn status. In FY24, the FirstCry group recorded a 15% year-on-year increase in revenue from operations to Rs 6,481 crore, with GlobalBees contributing Rs 1,209 crore to the group’s total revenue.

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GlobalBees faces insolvency plea from directors of Kuber Industries

EntrackrEntrackr · 28d ago
GlobalBees faces insolvency plea from directors of Kuber Industries
Medial

GlobalBees Brands Private Limited, a subsidiary of Brainbees Solutions Ltd (which owns FirstCry), is facing an insolvency plea at the National Company Law Tribunal (NCLT), New Delhi. Ashutosh Garg, Paritosh Garg, and Manju Agarwal, the directors of Kuber Mart Industries, have approached the NCLT, New Delhi bench, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) over an alleged default of Rs 64.92 crore. The claim includes interest at 18% per annum from May 9, 2025, until the date of actual payment. Notably, GlobalBees is an investor in Kuber Mart Industries, having infused Rs 50 crore in June 2022. The application is currently at the admission stage. According to a regulatory filing made by Brainbees on June 17, Globalbees is actively pursuing legal counsel and taking steps to oppose the petition, including contesting its admission. “The financial implication on the company cannot be ascertained and is contingent upon the final outcome of the said proceedings and subsequent legal challenges,” the filing stated. Over the past few months, GlobalBees saw the resignation of three board representatives, including Harsha Deepak Kumar (Lightspeed), Sudhir Kumar Sethi (Chiratae Ventures), and Kaveesh Chawla (Premji Invest). The company’s chief executive, Nitin Agarwal, also stepped down from his role due to personal reasons. Agarwal was replaced by Anuj Jain, who joined the firm as the new CEO. Globalbees was launched in 2021 as a Thrasio-style roll-up venture focused on acquiring and scaling digital-first consumer brands across categories like personal care, home, and nutrition. It has raised over $270 million in funding with the likes of SoftBank, Lightspeed, and Avendus. In FY25, FirstCry group reported Rs 7,660 crore in revenue from operations while GlobalBees contributed Rs 1,577 crore (over 20%) to the total revenue.

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