Evenflow Brands Tech Pvt Ltd, an aggregator of third-party sellers on ecommerce platforms, said it has acquired BabyPro, an ecommerce online business in the baby proofing category.
BabyPro is a brand that aims to make homes’ safe for kids by preventing accidents and injuries. It deals with baby-proofing products like corner guards, edge guards, socket covers, child locks and others.
Founded by Rachita Agarwal and operated by BabyPro Proofing Advisors LLP, BabyPro claims to be the only certified baby-proofer in India.
Post-acquisition, Agarwal will be paid an upfront amount and shall also get paid a percentage of the revenue the brand makes for two years. She will be joining Evenflow as a full-time employee.
BabyPro said it has clocked a 4X growth since June, and has grown from a rank of 92 to top 4 in the babycare category on Amazon. The company has also launched two new products, potty seats and dry sheets.
“We identified a nascent market and went after it - the way the daily run rate for the brand is going, we’re certain it wouldn’t take much time for us to be a key player in not just baby-proofing but the overall babycare category,” Utsav Agarwal, co-founder and CEO of Evenflow, said.
He added, “Over the next three years, we seek to acquire 80-100 such sellers. To see the entire life cycle come through for Babypro has helped us solidify our playbooks for other sellers we acquire. As Evenflow, we want to establish brands in categories within which consumers still do not have as many options - like home & kitchen, babycare, sports & fitness and others.”
The company said unlike other Thrasio-style rollups that primarily focus on D2C brands, Evenflow is focused on third party sellers on marketplaces and acquires them at EBITDA multiples, not revenue multiples.
“We have done the end-to-end execution in-house, from rebranding to paid advertising and launching two new products under it, all in 90 days. Acquisition is just one part of the business, how we scale and turn around sellers in record time will define this model,” Jyotsana Singh, founding member and head of marketing at Evenflow, said.