E-commerce enabler, KartRocket, has announced the completion of their $8 million round with the addition of a Japanese investor. Their existing investors include Bertelsmann India Investments (BII), Nirvana Digital India Fund, Nirvana Digital Investment Holding Co. Ltd., US-based 500 Start-Ups and Singapore-based Beenext which participated in the recent round of funding.
Major part of the funding will be mobilized towards enhancing the next-gen mobile marketplace Kraftly, which is a mobile-first O2O marketplace, targeting small seller communities and homepreneurs in India in long-tail categories such as apparel, accessories, home, crafts, and other unique and eclectic products. The platform can be accessed via web as well as both, Android and iOS apps.
With the goal of building a next-gen mobile marketplace, Saahil Goel, CEO & Co-founder, KartRocket commented, “Keeping in mind Kraftly’s single vision of allowing every seller to participate in e-commerce, the investment will help us with cutting-edge product development, talent acquisition, seller eco-system development and performance marketing.”
He further added, “To expand our scope of business in India’s fast growing e-commerce industry, we have appointed Ankit Sood as Chief Financial Officer and Akshay Ghulati as Chief Business Officer for Kraftly. While both of them possess an avid knowledge and experience in areas of business growth and financial sectors, their presence will help in bolstering the growth of our company.”
Currently boasting of more than 15,000 shops, Kraftly adds over 17,000 listings per day. Its vision is to create the most loved ‘flea-commerce’ platform by bringing on-board the long tail of individual and small seller communities and allowing them to fairly participate in e-commerce.