Footprints Childcare Pvt. Ltd., which runs full day childcare and preschool chain, has raised Rs 4.25 crore ($671,800) led by Vinay Kumar Bansal, director at Step Ahead Ventures and Kshitij Jain, the founder of mobile enterprise application firm Mobolt which has been recently acquired by Indeed.com, according to a press release.
The money has been raised through equity crowd-funding platform LetsVenture.
The company did not disclose details about other investors.
Footprints has five centres including four in Gurgaon and one in Noida. It will use the money for strengthening its operations and expanding further in Delhi NCR.
“Child day care is a $50 billion mature business in US. I believe India will follow the same trend as more and more women join the workforce. That makes for a perfect timing for a core consumer services businesses like Footprints in emerging economy like India. Footprints proven leadership team is just the right team, at right place, doing the right thing with perfect ingredients of passion, professionalism & technology to scale & deliver,” said Kshitij Jain.
The firm was founded in September 2013 by IIT-IIM alumni Raj Singhal, Purvesh Sharma and Ashish Aggarwal.
Singhal who has over a decade of experience, was working with TPG Software before founding this venture, while Sharma and Aggarwal were associated with BrickRed Technologies and with banks in India and Japan, respectively.
The team was later joined by Amita Bhardwaj, who became the curriculum director. Amita has 27 years of experience in the preschool sector and is BEd by education.