BackKartRocket raises around $ 2 million in Series A
The investors were led by Nirvana Venture Advisors with participation from 500 Startups and Japan-based Beenos Inc.
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Mumbai: BigFoot Retail Solutions Pvt. Ltd, which runs KartRocket.com, an online e-commerce enabling solutions provider, announced on Wednesday that it has raised around $2 million in its first round of funding.
The investors were led by Nirvana Venture Advisors with participation from US-based early stage investor and accelerator 500 Startups and Japan-based Beenos Inc. The company had previously raised a round of funding from 5ideas Startup Superfuel Fund, 500 Startups and investor Jatin Aneja in July 2013.
New Delhi-based KartRocket provides companies with web and mobile site designs, payment and sales integration solutions. “With the funds, we want to solve the next set of problems around cataloguing, mobile, traffic generation and discovery. We’re also planning to expand our presence pan-India including a heavy focus on Tier II and Tier III cities," co-founder Saahil Goel said in a statement.
The company was founded in 2012 and is looking to service 10,000 clients by end of next year. Some of KartRocket’s prominent clients include Da Milano Leathers Pvt. Ltd, Uni Style Image Pvt. Ltd, Valyoo Technologies Pvt. Ltd and a few others.
“KartRocket has rapidly proven that they can service the Indian SME (small and medium enterprise) market by offering a true end-to-end e-commerce platform on a subscription model," said Rajan Mehra, managing director, Nirvana Venture Advisors.
According to consulting firm Gartner Inc., the Indian e-commerce market is projected to reach $6 billion in value of goods sold in 2015, with a 70% spike in revenue over 2014, making the country the fastest growing e-commerce market in the Asia-Pacific region.
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