Online e-commerce marketplace, Overcart has secured an undisclosed amount in Series A round led by K Ganesh’s GrowthStory, as reported by Medianama. The other investors include IndiaMart founder & CEO Dinesh Agarwal, iXiGo founder & CEO Aloke Bajpai, GSF founder Rajesh Sawhney, GSF operating partner Rishab Malik and GSF’s Tara Bhargava.
The company aims to utilize the raised funds for scale up its business strategy, hire new talents and to build technology.
Earlier, it has received USD 25,000 in Seed investment from GSF Superangels network. Post this investment, former Vodafone India executive Jonathan Bill will join Overcart’s board of directors as a Strategic Advisor along with K Ganesh.
Alex Souter, the Managing Director of Overcart said,“With the marquee investors we have now have on board, Overcart is ideally positioned to scale in step with India’s e-commerce sector. The consolidation we are seeing in the e-commerce industry fits right into our business model.”
Founded in 2012 by Co-Founders Alex Souter and Saptarshi Nath. Earlier, it was known as Bootstrapp and offers products like mobile phones, laptops, console games and electronic accessories. Also, it sells unboxed, refurbished, excess stock, pre-owned products and currently focuses on businesses, e-commerce companies and the consumer electronics market in India.
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