Japanese conglomerate SoftBank is reportedly set to invest $400 million to acquire a 40% stake in Pune-based baby products startup FirstCry at a valuation of around $600-700 million. This comes after previous reports claimed that FirstCry may raise at least $150 million at an $800-900 million valuation from SoftBank. FirstCry was founded in 2010 by Supam Maheshwari and Amitava Saha.