NDTV’s ecommerce platform IndianRoots has partnered with Banka Silk, a handloom brand from Bihar to sell products made by local artisans of Banka district in Bihar on its platform. The tie up will help in the distribution of the Banka products worldwide. $5 million funding: The company has plans to expand by opening offline centres in India as well as worldwide. In May, the company had raised $5 million funding from KJS Group. The company claimed that following this round of funding, IndianRoots was valued at $85 million. It said that it would use the funds to scale up the platform’s logistics and delivery mechanisms and marketing activities. Last year, NDTV had mentioned that the company had spent an incubation cost of Rs 25 crore on the venture and was apparently in talks to raise capital through private placement. Global user base: The Gurgaon based IndianRoots, which was launched two years ago, claims to have traffic from over 150 countries. At the time of its launch, the platform offered ethnic wear from 80 designers and 300 brands which included Anita Dongre, Krsna Mehta, Karieshma Sarnaa and Malini Ramani. As of now, IndianRoots claims to have collections from over a 100 designers and over 700 brands. It ships globally and has support for its operations in Canada, the US, UK and Australia along with India. Users can pay through credit card, debit card, PayPal or PayU. The company does not yet support cash on delivery and does not deliver to PO…
