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KartRocket closes $8 mn funding

Press Trust of India  |  New Delhi 

eCommerce enabler KartRocket today said it has raised USD 2 million (Rs 13.4 crore) from a Japanese investor.

With this, the company has now closed a USD 8 million (about Rs 53.9 crore) funding round.

It however did not disclose details about the Japanese investor.

In January, Bertelsmann Investments (BII), Nirvana Digital Fund, Nirvana Digital Investment Holding Co Ltd, US-based 500 Start-Ups and Singapore-based Beenext had pumped in USD 6 million in the company.

Catering to small and medium enterprises, KartRocket enables merchants to go online under their own brand. It provides a web and mobile site, payments and logistics capabilities, in-built marketing and promotion tools to provide an end-to-end eCommerce experience.

"Major part of the funding will be mobilised towards enhancing the next-gen mobile marketplace Kraftly, which is a mobile-first O2O marketplace," KartRocket said in a statement.

Kraftly targets small seller communities and homepreneurs in in categories like apparel, accessories, home, crafts, and other products.

It has more than 15,000 shops and is adding over 17,000 listings per day, the statement said.

"The investment will help us with cutting-edge product development, talent acquisition, seller ecosystem development and performance marketing," KartRocket CEO and co-founder Saahil Goel said.

The company has recently appointed Ankit Sood as the Chief Financial Officer and Akshay Ghulati has been roped in as Chief Business Officer for Kraftly.

First Published: Tue, March 08 2016. 12:48 IST