Cub McPaws, the kids consumer-tech company has raised its Pre-Series A round from a syndicate of investors from US, Japan, Dubai and India. The company has raised a total of USD 800K from institutional investors and top angel investors.
Launched in December 2018 by ex-Pepperfry colleagues Abhay Bhat and Kinnar Shah, Cub McPaws is a kids consumer-tech company for Generation Alpha – kids born after 2010. The company uses its patented augmented reality technology to create an unparalleled engagement with its merchandise. The company has recorded a strong 50% MoM growth even during COVID times.
The Pre-series A round was led by a Dubai based global family office. A syndicate of top angel investors from Japan also invested in this round. It includes Mr Takayuki Sugiura, CEO of Circus Capital, Mr Daisuke Takagi, Executive Director at UBS, Ms Motoko Tanabe, Founder of HMF Corporation, Mr Toshiro Wakimaru, ex-COO of MedPeer Inc, and Mr Taichi Nakamura, CEO of Venex Ltd.
Existing investors including institutional investors like Samyakth Capital re-invested in this round. The company is backed by renowned investors such as Venture Catalysts, Mr Ambareesh Murty, CEO Pepperfry, Mr Robin Joffe, MD at Frost and Sullivan, and Mr Anuj Golecha, co-founder Venture Catalysts.
“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 Abhay Bhat, founder at Cub McPaws.
“We are already in discussions with Global Venture Capital funds for our Series A investment round. The current investment enables us to fuel growth over the next few months and allows us to create a world-class customer experience. 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. “Kinnar Shah added.
“The unique and disruptive approach of Cub McPaws and its potential to easily expand globally make it an interesting investment opportunity. The team at Cub McPaws has built a fundamentally strong business and have demonstrated growth even during the tough times. The integrated technology offering, including the patented AR technology, gives it an edge over other consumer companies as it can give disproportionate growth to the brand” said Mr Sugiura on behalf of investors.
“The confidence of existing investors reinvesting in this round stems from two important factors – the robust growth of the brand during the challenging COVID time and a loyal consumer base it has created in a short time span. Cub McPaws has thus solved the two key challenges faced by consumer brands and is ready to scale up from here”, said Dr Apoorv Ranjan Sharma of Co-Founder & President Venture Catalysts.