Baby Planet, a Lahore-based ecommerce platform for baby products, has raised $250,000 in a seed round led by Singapore-based High Output Ventures.
VC Karavan, a venture funding platform that focuses on Pakistani startups, also participated in this investment round alongside US-based Virtual Force and a host of other angel investors from the Middle East.
Baby Planet sells a wide range of baby products on its online platform, from simple baby wipes to strollers and cribs. Founded by Irfan Ahmed in 2014, it currently holds 5,000 SKUs (stock keeping units) and ships its products all over the nation, with free shipping for all orders above PKR 1,500.
While the startup hasn’t disclosed its exact sales figures yet, it has stated that it has a seven-figure (USD) gross merchandise value. Unsurprisingly, it has witnessed a boost in sales ever since the start of the coronavirus pandemic.
According to Irfan Ahmed, who is also the CEO of Baby Planet, the startup will use the investment to continue scaling across Pakistan and accelerate their growth. It will also be launching mobile apps for iOS and Android.
“It [the investment] will help us further solidify our position as one of the leading baby products online retailer in the country,” said Ahmed.
The investors are seemingly impressed by Baby Planet and its plans to continue to invest in its growth.
“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,” said Usman Sheikh, Managing Director High Output Ventures.
“Irfan is a resilient and home-grown 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,” said Meenah Tariq, a partner at VC Karavan.
