D2C children’s subscription service Gro Club, a startup arm of the MS Ramaiah Group, has raised Rs 4.3 crore in a pre-seed round at a valuation of Rs 25 crore.
The round also included participation from angel investors Deepak Gowda, Purushotham R, Chirag Shah, Isaac Reyes, Amit Nanavati, Sanjay Munirathna, Dinesh Talera, Shricharan N J, and Sanjay Sunku.
According to a press release from Gro Club, the startup will broaden its market and enter new Indian cities with the help of the new fund.
Gro Club, which was introduced in January 2022, offers bicycles for growing children on subscription and hassle-free ownership for adults for a monthly fee ranging from Rs 250 to Rs 500. For the duration of the subscription, the business offers service at the customer’s door.
Bengaluru currently has access to it. The startup claims to have over 4500 subscribers, and it currently generates Rs 23 lakh per month in revenue from subscriptions.
Beyond subscription, GroClub promotes kids’ holistic development by instilling in them a sense of responsibility in their use of a variety of digital and outdoor experiences.