Baby Planet, a Lahore-based online retailer for baby products has raised USD 250,000 in a seed round, the company said to MENAbytes. The round was led by Singapore-based High Output Ventures, which recently launched an accelerator program to invest in Pakistani startups. This particular investment, however, was made from their seed arm and not the accelerator.
Pakistan-focused VC firm Karavan also participated in the round along with US-based Virtual Force and some other angels from the Middle East.
Founded in 2014 by Irfan Ahmed, Baby Planet sells baby products, ranging from wipes and diapers to strollers and cribs, through its online platform. The company told MENAbytes that it currently features over 5,000 SKUs and ships these products all over Pakistan, waiving shipping fees on orders above PKR 1,500 (about USD 9).
The startup declined to share its exact sales numbers, but told MENAbytes that it has a seven-figure annual GMV (in US dollars). It also said that it has witnessed a big spike in sales since the start of the pandemic in February.
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Irfan Ahmed, the founder and CEO of Baby Planet, said that they will use the investment to scale across Pakistan and accelerate the company’s growth. “It will help us further solidify our position as one of the leading baby products online retailers in the country.”
Baby Planet also plans to use a part of the investment to launch its mobile apps for iOS and Android.
Usman Sheikh, the managing director of High Output Ventures, 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, said, “Irfan is a resilient and homegrown entrepreneur. He has a deep understanding of his sector and is constantly trying to improve. We are proud to have him and Baby Planet be a part of Karavan.”
This article first appeared in MENAbytes.
