Printing chain Printo acquires Chennai-based Inkmonk for undisclosed sum

Inkmonk, which is an online marketplace for custom prints, will continue to operate as a separate brand

Printo, a Bengaluru-based printing solutions company, on Tuesday said it acquired Inkmonk, a Chennai-based online marketplace for custom print products. The deal was size was undisclosed. 

The deal marks Printo’s third acquisition for in-organic expansion. It bought photo-sharing app Lifeblob in 2011 and Delhi-based The Print Bazaar in 2017. Another printing start-up Canvera was absorbed into Printo, when the former’s largest investor Info Edge invested in Printo in 2011.

The Inkmonk.com acquisition, combined with Printo’s other online brands Printo.in and Canvera.com makes Printo India's largest online printing services destination, the company said in a statement.

Printo works through e-commerce and offline channels, and has 33 printing stores across six cities. It serves small customers and enterprises with a range of printing solutions for business cards, brochures, custom t-shirts, corporate gifting and signage. 

The firm was started in Bengaluru in 2006 by by Lalana Zaveri and Manish Sharma. Sequoia Capital was an early investor in Printo before its stake was bought out by the founders and Blume Ventures in 2012.

Chennai based Inkmonk was founded in 2014 by Isaac Wesley and Surya Sankar. The start-up had raised from Girish Mathrubootham, founder, Freshworks), Phanindra Sama, founder, Redbus and Japan based online print giant Raksul.

“This strategic acquisition enables Printo to offer a seamless, omnichannel experience to our customers.” said Balu Iyer, chief executive officer at Printo.
 

“Just like Canvera, Inkmonk will continue to grow as an independent brand,” said Sharma, Printo’s co-founder and chairman.

“The Printo brand serves the premium, quick-service market and large enterprise customers, while Inkmonk will continue focusing on the online, value market,” said Wesley of Inkmonk.