Bangalore based photo printing portal Picsquare has announced an investment from offline player Bhola Digital Lab. This is ironic, particularly since online photo printing services compete with traditional photo printing services; Picsquare has been using Bhola’s printing services, and apparently worked with DTDC for delivery. For Bhola Digital Lab, this is a strategic investment, giving them an online presense, and a means for customer acquisition. The quantum of the investment, or the stake acquired have not been mentioned. Picsquare had raised $75,000 from MChek CEO Sanjay Swami, Snapfish founder Shripati Acharya and Vijay Iyer, VP (Marketing) of Portal Systems.

No inputs in the company release about how PicSquare has been performing, though, just a mention of over 1.5 lakh users. That’s around 50,000 more than the number claimed by another photosharing upstart – MeraSnap, whose userbase was aquired earlier this year by HP owned Snapfish. We’ve contacted Picsquare for more info.

Other companies in this space include Printo (funding from Sequoia Capital and Seed Fund), iTasveer (has a deal with Windows Vista), KPCB and Sherpalo funded ZoomIn, Canvera (funding from Footprint Ventures, Mumbai Angels and DFJ) and others like eYaadein and PhotoMasti.