eCommerce solutions provider, KartRocket has raised $6 million in funding led by Bertelsmann India Investments (BII) with participation from existing investors, Nirvana Digital India Fund, Nirvana Digital Investment Holding Co Ltd, US-based 500 Start-Ups and Singapore’s Beenext.
The fresh investment will help the company in product development, talent acquisition, seller ecosystem development and performance marketing.
KartRocket caters to SME players by providing them with web and mobile site, payments and logistics capabilities, in-built marketing and promotion tools as well as integrations with leading B2C marketplaces. It has 7,500 shops and adds over 10,000 listings per day.
Commenting on the development, CEO and co-founder Saahil Goel said, “The current ecosystem is not supportive of integrating smaller sellers into eCommerce, in-fact they aim towards replacing them rather than including them. There are over 50 million ‘homepreneurs’ and small sellers in India that currently do not have a medium of launching their sales online.”
As per Goel, the company is building the largest supply base of unique products for buyers to choose from. In 2013, KartRocket had raised seed round from angel investors — 5Ideas Startup Superfuel and 500 Startups. In 2014, it secured its Series A funding from Nirvana Venture Advisors, 500 Startups and Beenos.
The company is competing with players like Shopify, Zepo, Shopnix etc.Category Investments News