SUMMARY
- GlobalBees invests Rs 4.5 crore in Dynamic IT Solution, acquiring a 24% stake.
- Dynamic IT Solution operates in software design and sports & fitness products under the “Strauss” brand.
- GlobalBees continues strategic investments after raising Rs 150 crore through a debt round earlier this year.
GlobalBees Brands Private Limited, a subsidiary of FirstCry parent company Brainbees Solutions, has invested Rs 4.5 crore in Dynamic IT Solution Private Limited, securing a 24% stake in the company. This move strengthens GlobalBees’ growing portfolio, as it continues to invest in promising ventures.
Dynamic IT Solution, founded in 2002, operates in the fields of software design, sports & fitness accessories, and the trade of sports products under the brand name “Strauss.” The investment marks a significant step for GlobalBees as it looks to diversify its holdings within the sports and fitness industry.
Earlier this year, GlobalBees raised Rs 150 crore through a debt round led by Avendus, issuing 1,500 non-convertible debentures (NCDs) at a price of Rs 10 lakh each, as per regulatory filings. The funds raised have been directed towards the company’s expansion and strategic acquisitions.
In September, GlobalBees increased its stake in two subsidiaries of Brainbees Solutions—Frootle India Private Limited and Wellspire India Private Limited—investing Rs 105.15 crore and Rs 1.05 crore, respectively. These moves are part of GlobalBees’ ongoing strategy to strengthen its presence across various sectors, from consumer goods to tech-enabled products.
In a parallel development, Brainbees Solutions received a notice from the Karnataka GST authorities regarding the FY 2020-21, related to a discrepancy in Input Tax Credit (ITC) between GSTR-3B and GSTR-2A filings. This notice is being addressed by the company as part of its regulatory compliance efforts.
With its investment in Dynamic IT Solution, GlobalBees is aiming to leverage the growing demand for sports and fitness products while exploring synergies with tech-enabled solutions. This latest investment complements the company’s long-term vision of building a diversified portfolio with high-growth potential in the consumer tech space.
