E-commerce company Cbazaar has raised $3.5 million in a Series-A funding from Inventus Capital Partners and Ojas Ventures, reports The Financial Express. The company intends to use the funds raised to improve its technology, customer acquisition and for marketing initiatives in India and overseas. It also plans to use these funds to introduce new products such as fashion jewellery, ethnic footwear, fusion wear and kidswear.
Chennai-based Cbazaar is an e-commerce retailer which offers Indian ethnic clothing like Salwar Kameez, Sarees, Designer Kurtis, Lehenga Cholis, Men’s Sherwani and Kurta Pyjama as well as jewellery and accessories like Necklace Sets, Earrings, Bracelets among others to 54 countries across the world including India, United Kingdom, Australia, New Zealand and so on. The company also offers custom made designer outfits as per the user’s preference.
Cbazaar claims to have more than 100,000 customers across 54 countries, recording over 100% growth YoY and currently offers 15,000 items, adding more than 100 items daily on an average. Last month, the company had launched an Windows 8 app, allowing users to browse apparel categories such as wedding collection, women & men clothing, kids clothing, jewelry and handbags in a Metro UI, enabling users to search and buy products without visiting the company’s portal.
Other Players: In November 2011, Times Internet (Indiatimes)* had launched an NRI-focussed e-commerce site HutK.com, which offers ethnic Indian apparel for men and women, jewelry, handicrafts such as paintings and sculptures and spiritual items like japa malas (rosaries) and puja items. Another player in the segment is Exclusively.in, which had transformed from a flash-sales/private sales model to a standard e-commerce site, shipping designer apparel, jewelry and accessories to US and UK.
*Disclosure: Indiatimes is an advertiser with MediaNama