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GlobalBees Raises Stakes In Frootle India, Wellspire India
Inc42
·
11m ago
Medial
GlobalBees, a company in the digital consumer brands space, has announced that it has acquired an additional 23% stake in Frootle India Pvt Ltd and Wellspire India Pvt Ltd. The investment, worth INR 105.15 Cr and INR 1.05 Cr respectively, has increased GlobalBees' stake in both companies from 51% to 74%. GlobalBees is a rapidly growing company that focuses on acquiring and scaling digitally native consumer brands. Frootle and Wellspire are both subsidiaries of FirstCry, an omnichannel baby and kids marketplace.
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Globalbees hikes stake in subsidiaries of Brainbees Solutions
YourStory
·
11m ago
Medial
GlobalBees, an ecommerce rollup startup backed by SoftBank, has increased its stake in two subsidiaries of Brainbees Solutions Limited - Frootle India and Wellspire India. The investment amounted to Rs 105.15 crore and Rs 1.05 crore, respectively. As a result, GlobalBees now holds a 74% stake in both companies, up from 51%. Frootle India and Wellspire India are involved in the home and kitchen appliance category. In a separate development, GlobalBees raised Rs 150 crore ($18 million) in debt funding earlier this year. The company reported a reduced standalone loss of Rs 6.15 crore in the financial year 2022-23 compared to the previous year.
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GlobalBees raises $18 Mn in debt from Avendus
Entrackr
·
1y ago
Medial
E-commerce roll-up firm GlobalBees has raised Rs 150 crore or $18 million in a debt round from Avendus. This is the third debt round for the Delhi-based firm since its inception in 2021. The board at GlobalBees has passed a special resolution to issue 1,500 non-convertible debentures at an issue price of Rs 10,00,000 each to raise Rs 150 crore or $18 million, its regulatory filing sourced from the Registrar of Companies shows. The company will use these proceeds towards the working capital requirements and to meet general corporate expenses, the filings added. The non-convertible debentures have an annual coupon rate of 14.5%. Roll-up startups like GlobalBees partner with online-first entrepreneurs, scaling D2C businesses globally and in India. They focus on brands with $1-20 million in revenue, offering capital and support in marketing, supply chain, R&D, and operations. GlobalBees had raised over $270 million to date including its $111 million Series B round which made it a unicorn in December 2021. The company was last valued at around $1.12 billion. Notably, Series A and Series B also had debt components of $75 million and $30 million respectively. According to the startup data intelligence platform TheKredible, FirstCry along with Supam Maheshwari holds 55.6% in GlobalBees while Chimetech Holding, Premji Invest, and Lightspeed command 12.8%, 6.95%, and 6.57% respectively. During the fiscal year ending March 2023, its standalone revenue from operations surged 3.4X to Rs 65 crore whereas the company’s losses spiked two-fold to Rs 6 crore in the same period. GlobalBees competes with the likes of Mensa Brands, GOAT Brand Labs, Evenflow, Upscalio and Powerhouse91. Mensa Brands posted a revenue of Rs 1,317 crore with a loss of Rs 329 crore in FY23. Upscalio recorded a revenue and loss of Rs 216 crore and 78 crore loss respectively in FY23. Mensa also raised $76 million in debt across two tranches in 2023.
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GlobalBees Raises Stake In Solarista With INR 5.88 Cr Investment
Inc42
·
10m ago
Medial
GlobalBees, an e-commerce roll-up firm, has acquired an additional 22.5% stake in Solarista Renewables, a brand that sells bags and rainwear under the name 'The Clownfish'. The all-cash deal, worth INR 5.88 Cr, follows an agreement between shareholders in April 2022, and now brings GlobalBees' total stake in Solarista to 75%. This investment comes shortly after Brainbees Solutions, the parent company of FirstCry, announced a AED 50 Mn (INR 114.1 Cr) investment in its UAE subsidiary, FirstCry Management DWC LLC.
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GlobalBees Bags $17 Mn Debt Funding From Avendus
Inc42
·
1y ago
Medial
GlobalBees, a Softbank-backed ecommerce rollup startup, has raised INR 140 Cr ($17 Mn) in a debt funding round from Avendus. The funds will be used for working capital needs. GlobalBees invests in and acquires companies that sell products on platforms like Amazon India and Flipkart. With a gross revenue of INR 550 Cr in Q3 FY24, GlobalBees aims to partner with companies in niche categories like FMCG, sports, home organization, and lifestyle. It has raised a total of $175 Mn in funding and competes with Mensa Brands, Evenflow, and GOAT Brand Labs. The funding follows parent entity FirstCry's draft red herring prospectus filing for INR 1,816 Cr IPO.
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FirstCry Subsidiary GlobalBees Faces Insolvency Plea
Inc42
·
1m ago
Medial
GlobalBees Brands, a subsidiary of FirstCry's parent Brainbees Solutions, faces an insolvency plea by Ashutosh Garg, Paritosh Garg, and Manju Agarwal. The claim amounts to INR 64.92 crore, excluding interest, for a period starting May 9, 2025. Brainbees has stated that GlobalBees is actively seeking legal advice and taking necessary measures to oppose the application to safeguard its interests. GlobalBees had acquired a 74% stake in Kuber Mart in December 2021.
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Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over
Entrackr
·
3m ago
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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FirstCry’s GlobalBees Invests Another INR 8 Cr In D2C Brand The Butternut Co
Inc42
·
10m ago
Medial
GlobalBees has acquired an additional 24% stake in D2C brand The Butternut Co, increasing its total stake to 100%. The Butternut Co reported a 57% year-on-year increase in revenue to INR 11.14 crore in FY24, with losses decreasing by 42% to INR 1.61 crore. GlobalBees, a subsidiary of FirstCry, also recently increased its stake in bags and rainwear brand The Clownfish by investing INR 5.88 crore.
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FirstCry to invest Rs 146 Cr in subsidiary GlobalBees for international expansion
YourStory
·
4m ago
Medial
FirstCry, led by Supam Maheshwari, will invest Rs 146 crore in its international arm, GlobalBees Brands, over 12 months. The company also announced setting up FC Management in the UAE to offer management services. Rs 20.98 crore will be invested initially, with a part allocated to Firstcry Trading Company in KSA. GlobalBees saw a 35% revenue increase in FY23-24. The board approved employee equity share allocation and appointed a new compliance officer.
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FirstCry's GlobalBees Brands sees three board members exit
YourStory
·
3m ago
Medial
Three investor board members resigned from GlobalBees, a FirstCry venture, following CEO Nitin Agarwal's departure. Sudhir Kumar Sethi, Harsha Kumar, and Kaveesh Chawla stepped down to comply with SEBI’s UPSI rules, curbing insider trading. The exits follow GlobalBees’ funding and leadership changes, with Anuj Jain now leading the company. This Thrasio-style direct-to-consumer firm, founded in 2021, manages brands in various sectors and recently received a Rs 146 crore infusion.
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GlobalBees faces insolvency plea from directors of Kuber Industries
Entrackr
·
1m ago
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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