With plans to boost up its technology and marketing efforts, Browntape has raised an undisclosed amount from early stage investor Seedfund and angel investor Krishnan Ganesh. Launched last year in August, it is a SaaS-based online software developer firm providing multi-channel inventory management solutions to the ecommerce retailers.
Based in Goa, Browntape is an initiative of Piyush Goel, Ian Morgan and Gurpreet Singh. They are a part of GSF accelerator’s second batch. With this deal, Seedfund’s Paula Mariwala will also join the Browntape board, per Startup Central’s Snigdha Sengupta.
The software solutions provided by the firm allows online merchants selling on different marketplaces such as eBay, Amazon, Flipkart, Snapdeal, etc) manage their orders and inventory in one place without the need to log in to each site separately.
A seller can bulk print shipping labels, invoices and manifests and track the status of all his orders in one console. When an item sells on one site, the stock quantity gets updated on all his online stores automatically via Browntape.
As revealed by Piyush, the team is also planning to launch the feature of catalogue management, wherein anybody can upload its product on browntape and then browntape will push it onto the different websites. Right now people have to go and list the products separately o all the websites.
Since its launch, more than 275, 000 orders have been processed and has got 500+ sellers signed up for the service. “With a lot of marketplaces coming up and many like Flipkart, shopclues getting success, there is definitely a necessity for such kind of service,” said Piyush.
Seedfund portfolio currently consists of around 20 companies including redBus, Edusports, Carwale, Afaqs and more. It usually invests between $1 million to $5 million in the initial rounds.
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