Leading and fully integrated Photography Company Canvera has successfully raised Rs. 15 crores from existing investor InfoEdge this month to support aggressive growth plans and product development.
Canvera supports professional photographers with integrated online solutions across 700 plus cities all over India. Recently, it took a significant position in the B2C online classified space.
As part of its market leading innovations, in October 2015, Canvera released a new range of photo books. This includes an industry first Momentbook range for consumers.
Canvera's innovations include the industry's first photo book viewing mobile app launched in 2015. Installs for the app have grown strongly, crossing the 150K mark.
Canvera's B2Conline classifieds directory now has 10K plus photographers listed from over 700 cities from every part of the country making it the go to site for consumers.
Ranjit Yadav, CEO of Canvera, said, "Canvera is best placed as a vertical player in the photography eco-system. We see momentum across all the different product lines and businesses. Canvera is a pioneer in the photography space and will continue to work on bringing innovation to the photography industry. Canvera will delight consumers and photographers with best in class offerings. It is great to partner with Info Edge in this journey."
Chintan Thakkar, CFO of Info Edge, said, "Info Edge sees positive traction in the initiatives undertaken by Canvera. The photography market is underserved and Canvera is well set-up to realise these opportunities with the new CEO at its helm. Info Edge has invested Rs.15 crores in an internal round to support Canvera's business growth and product development.