Prior to this round, Wauwaa obtained 220K Euro in seed funding last year from Equipboard-founder Michael Pierce and Peter Briger and 100K Euro from Tekes, the Finnish government’s investment agency. All told, the company now has $1.7 million in funding. They do not release figures regarding users, but report that 10% of first-time visitors make a purchase.
The company was conceived two years ago by co-founders Ivan Lopez and Sam Laakkonen after Laakkonen began dealing with the frustrations of being a new parent. Thus, they set out to create a service that would offer advice to parents and parents-to-be (in the form of blogs and videos) and special offers on products for when the little one arrives. The startup launched in the UK last September and is currently based in both London and Helsinki.
Parent-oriented services have proven popular with investors within the past couple of years, at least in central and eastern Europe. In February 2013, Russian Bimbasket, a club that offers parents toys for children on a subscription basis, raised $500K from New York-based Black Ocean. That same month, Polish investor Xevin Investmentsbacked baby-oriented shopping club Baby’s Secret with $230K. A month after that, German baby-oriented retailer Windeln.de announced $19.6 million in new investment from DN Capital, Acton Partners, MCI, and 360 Capital Partners. Then, this past February, MCI invested an undisclosed amount in Czech/Slovak baby-retailer Feedo.