Early investors in FirstCry are looking to sell a $2.1 billion valuation stake.

BrainBees Solutions, which runs FirstCry, is priced at almost double its previous funding round.

Japan’s SoftBank Vision Fund, which acquired a 40 percent stake in a Series E funding round for $400 million in 2019, is the largest stakeholder in the decade-old firm, valued at about $1.1 billion during the investment period.

The fundraising comes at a time when the omnichannel retailer aims to realign its cap table in the next two-three years before launching an initial public offering (IPO).

An Individual aware of the discussions said: “Some of the early supporters of the company, Chiratae Ventures, NEA, Vertex Ventures, and Elevation Capital, might be looking to sell their stakes.”

According to data from Venture Intelligence, FirstCry, which also sells mother care goods, has raised $503 million since 2011 through seven financing rounds from investors including Chiratae Ventures, NEA, Vertex Ventures, Elevation Capital, Valiant Capital, Ratan Tata, KrisGopalakrishnan, and Masayoshi Son-led SoftBank Vision Fund.

The company’s valuation would almost double to $2.1 billion with the planned secondary round, a second individual with knowledge of the development said.