wordpress blog stats
Connect with us

Hi, what are you looking for?

Kribha Handicrafts Raises Early Stage Funding From Nexus, Lightspeed

Kribha Handicrafts, an exclusive supplier to online retail portal Craftsvilla.com has raised an undisclosed amount of early stage funding from Nexus Venture Partners and Lightspeed Venture Partners. A couple of things to note:

– Kribha Handicrafts, not Craftsvilla: It’s worth noting that Kribha Handicrafts, the supplier to Craftsvilla, that has raised the money, and not Craftsvilla itself. Perhaps this is how the investors are trying to bypass the limitations put on e-commerce ventures by India’s multi-brand retail FDI policy, by investing in the supplier company, rather than the front end website. The other route we’ve heard of is investment in the technology company powering the business, like in case of KPCB and Sherpalo Ventures’ investment in Futurebazaar.
– Old hand: Manoj Gupta, co-founder and CEO of Kribha Handicrafts, was previously an associate with Nexus Venture Partners, which the company has raised funding from.

Craftsvilla features artisan-produced apparel, metalware, jewelry and home furnishings. A statement from the company says that the funding will be used to invest in the team, technology, and building the back-end supply chain and sourcing of products. In an interview with StartupCentral earlier in June, Gupta had said that he is targeting a product portfolio of 100,000 products within 12 months, with more than 1000 orders per day by March 2012, and a revenue run-rate of around Rs 30-40 crore per year. Read the interview here. At that time, the company was in talks with Nexus Venture Partners for raising funding.

Other online fashion retailers include Exclusively.in, which has recently switched from a flash sales model, Info Edge backed 99labels, Smile Interactive and Sequoia Capital backed fashionandyou, the India Today group’s bagittoday, little known ThePrivateSalesfetise.com, SAIF Partners backed ZOVI.com, among others.

Advertisement. Scroll to continue reading.
Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ