Powerstores raises Series A funds from HongKong based investor

Goa based, SaaS & DIY (Do-it-Yourself) ecommerce and website platform Powerstores, has raised undisclosed amount of funds from HongKong based investor in Series A, confirms Cofounder and CEO, Cory York. Though according to Techcircle the amount is speculated to be around USD 2 million.

The funds, which were raised three months back, will be used in growing the team, and marketing.

Powerstores allows businesses to create and manage content and ecommerce based websites. It also provides designers with a platform to create web designs and developers to create new features and functionalities.

Recently, Powerstores has launched Guru Program consisting of web developers and graphic designers, which provides complete service to customers who wish to launch their ecommerce store. These Gurus assist the customer throughout the process right from building stores to assisting for payment gateway, setting merchant account, registering domains, etc.

It has also hired two Americans including Greg Acuna, and Sara Cabral as Chief Strategy Officer & VP operations.

Till now, as per Cory, Powerstores has not focused on revenues, rather have focused on growing the product and making sure that its first 500 users get a great experience. For future, Powerstores will remain focused towards the Indian market and mobile.

Powerstores charges monthly subscription fee from INR 500 to INR 3500, depending upon the type of plan undertaken.

Powerstores was co-founded by Cory York & Indrajit Chowdhury in late 2011. Cory had led the expansion operations of Novator Systems Canada in India and was Managing Director of Novator India whereas Indrajit was consultant at Nickelodeon Online, taking care of its day to day operations of Nick.com.

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