McPaws is a startup based in Mumbai that has raised has raised Pre-Series A funding of $800K from a syndicate of investors from the US, Japan, Dubai, and India.
“Cub McPaws is already a phenomenon among kids and parents across India. The new investment will help us scale our technology offering and create a complete range of products. We will explore international markets where our products have generated significant interest . We are in discussion with an ex-Facebook, Uber senior executive to head our technology team”, said co-founder Abhay Bhat.
Kinnar Shah added the company is in discussion with global venture capital funds for its Series A investment round, and the current investment will help Cub McPaws to fuel growth over next few months. “Further, this will add benefits of scale, thereby increasing our gross margins significantly. Receiving this investment during such difficult times also shows the strength of our business model,” he added.
Launched in December 2018 by ex-Pepperfry colleagues Abhay Bhat and Kinnar Shah, Cub McPaws is a direct-to-consumer brand that focuses on premium and comfortable merchandise for kids born after 2010. Its product line includes Magic T-shirts, a first-of-its-kind AR-enabled clothing line; and Terra, a 100 percent chemical-free and organic range of clothing. The startup said in a statement that it has recorded month-on-month growth of 50 percent even during COVID times.