Cub McPaws, an AR (augmented reality) startup (1), has raised 800k USD in its Pre-Series A funding round. Investors from Japan, Dubai, the US, and India participated in the fundraising.
The Dubai-based global family office led the latest funding round of the Mumbai-based startup. The angel investors from Japan include Daisuke Takagi, Executive Director at USB, Takayuki Sugiura, CEO of Circus Capital, Toshiro Wakimaru, ex-COO of MedPeer Inc., Motoko Tanabe, HMF Corporation Founder, and Taichi Nakamura, CEO of Venex Ltd.
The existing investors of Cub McPaws, Samyakth Capital, also participated in the latest funding round. In December 2019, the startup had raised allocations from Venture Catalysts in a Pre-seed round.
Cub McPaws Focuses on Kids Born After 2010
Abhay Bhat and Kinnar Shah, ex-colleagues of Pepperfry, launched the startup in December 2019. It is a direct-to-consumer brand. The Mumbai-based startup focused on premium and comfortable products for kids born after 2010.
The product line of Cub McPaws includes Magic T-shirts, AR-enabled clothing, and Terra, which is a 100% chemical-free and organic clothing range. As per the company’s statement, it is observing monthly growth of 50% even during the pandemic.
The firm will use the latest fundraise to increase its customer base and distribution while improving its technology. Cub McPaws said that it would soon look for a Series A fund and hire senior professionals.
The startup is doing well among kids and parents in India. The latest fundraising will help the company to offer a complete product range. Cub McPaws is also exploring international markets with significant interest in its products, says Abhay Bhat, Co-founder. The team is currently looking for Facebook, Uber, senior executives to head the technology team, he added.
Kinnar Shah stated that Cub McPaws is discussing global venture capital funds for its upcoming Series A investment round.
Kinnar added that the current investment would help its growth along with its gross margins. Cub Paws receiving new investments in the tough times reflects its robust business model.
Author: Rucha Joshi
Source : https://timesnext.com/cub-mcpaws-bags-800k-usd-from-global-investors/
Date : 2020-09-14T09:26:37.000Z