Ecommerce, Investments, News

GrowthStory invests in Onlineprasad.com

Bangalore based online store for offering and delivering Prasad & religious merchandise, OnlinePrasad has raised undisclosed amount of funds from Growthstory, an investment arm of technology entrepreneurs, K Ganesh and Meena Ganesh, reports TOI.

With the investment, K Ganesh and Meena Ganesh have acquired a 35% stake in the company. “India’s religious market is a huge white space which is migrating to the internet with the changing pace of social lives,” said K Ganesh.

The company also has an investment by Nandini Hiranniah and Sameer Guglani, of The Morpheus.

OnlinePrasad, founded by former Bain & Co analyst, Goonjan Mall leverages the internet and technology to offer puja at temples. It provides users with the choice to select the temple, the company buys and offers prasad on user’s chosen temple and delivers it to the user within 5 days.

Currently, it has a network of over 30+ temples, including Vaishno Devi, Shirdi Sai and Jagannath Puri. It claims to receive more than 200 offerings on important festivals and auspicious occasions.

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The logistics is managed by FedEx and DHL. It is also using the services of GharPay, which handles payment collections on behalf of the company before delivery of goods.

OnlinePrasad is also in plans to build a full suite of services, which might include sale of branded religious merchandise and online travel plans for pilgrims.

Though there are no established players in the market in this category but others in the genre includes OnlineBhakti, IndiaYogi, VaastuStore, Saranam, eprarthna etc.

K Ganesh and Meena Ganesh have also invested in TutorVista, Marketics Technologies and Customer Asset, to acquirers like UK’s Pearson, WNS and ICICI.

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