Japanese technology to telecommunications company SoftBank is negotiating a potential investment of $200 million in Indian online baby and mother care platform FirstCry.
The deal, if successful, will value FirstCry at about $800 million to $900 million. This will mark an over two-fold increase from the valuation of $350 million when it last raised capital.
FirstCry had also held talks with Chinese internet to retail company Tencent and Singaporean sovereign wealth fund Temasek for this round. U.S.-based Investment bank Morgan Stanley is advising FirstCry on the proposed deal with SoftBank.
The talks are at an advanced stage and a deal may close before the end of the year.