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BIS conducts raid at FirstCry warehouse in Bengaluru

EntrackrEntrackr · 8m ago
BIS conducts raid at FirstCry warehouse in Bengaluru
Medial

BIS conducts raid at FirstCry warehouse in Bengaluru Brainbees Solutions Limited, the parent company of FirstCry, said on Monday that the Bureau of Indian Standards (BIS) carried out a surprise search and seizure at one of its Bengaluru warehouses. According to a filing with the stock exchanges, the operation took place on May 26, 2025, culminating in the seizure of products worth approximately Rs 90 lakh. The BIS alleged non-compliance with hallmarking requirements under Section 14(6) of the BIS Act, 2016, a serious charge that could lead to further legal proceedings. The Pune-based company, which runs one of India’s biggest online stores for baby and kids' products, said the raid did not affect its daily operations. It added that it is taking legal advice and believes the seized products follow BIS rules. FirstCry has stressed that it follows strong corporate and regulatory rules. However, the incident highlights how authorities like the BIS are becoming more watchful about product safety and certification. In November last year, the company was investigated by the GST department in Mumbai. The company also shared its quarterly results on Monday, reporting an 18% year-on-year rise in revenue to Rs 1,930 crore for Q4FY25. However, its losses grew by 74% to Rs 75 crore during the same period. BrainBees debuted on the stock exchange at Rs 446 and is now trading at 355.95 on May 27 (11:42 AM), bringing its total market capitalization to Rs 18,557 crore (approximately $2.18 billion).

33&Brew raises Rs 20 Cr in Series A round led by Optimistic Capital

EntrackrEntrackr · 13d ago
33&Brew raises Rs 20 Cr in Series A round led by Optimistic Capital
Medial

Vinyl-themed microbrewery 33&Brew has raised Rs 20 crore ($2.2 million) in a Series A funding round led by Optimistic Capital. The venture capital firm had earlier announced a Rs 200 crore beer-focused fund dedicated to the microbrewery sector. The fund has deployed Rs 30 crore across its initial investments, with the remaining Rs 170 crore earmarked for deployment over the next three years. The capital will support bottling, kegging, and other craft beer–adjacent operations. As an owner-operator fund, it targets growth in India’s craft beer sector, with participation from investors in the Middle East and Africa (MEA) and India. The proceeds will be used for construction and expansion, 33&Brew said in a press release. Founded last year by Karthik Chandrasekaran, 33&Brew is a vinyl-themed microbrewery that combines craft beer with a curated vinyl record collection (33⅓ RPM). The outlet offers a progressive Indian menu in a music-focused setting and was conceptualised in collaboration with chef Sabyasachi Gorai. According to the company, guests can select and play vinyl records, creating a personalised music experience alongside their drinks. The brand offers a progressive Indian menu with global influences, along with craft beers, signature cocktails, and a curated food selection. 33&Brew said it aims to combine craft brewing with analogue music culture to differentiate itself in Bengaluru’s brewery market. Optimistic Capital focuses exclusively on the craft beer sector and offers structured investment opportunities for retail and institutional investors. The firm plans to invest in two additional microbreweries in central Bengaluru.

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