Zansaar, a Bangalore based online portal retailing home décor products has raised $6 million funding from Accel Partners and Tiger Global, reports Techcircle. The company intends to use the funds to expand inventory and supply chain capabilities, and for meeting marketing cost and working capital requirements. Following this deal, Subrata Mitra of Accel Partners will be joining the company as a board member. The investment follows various recent early stage e-commerce venture fundings, indicating that the segment is still attracting VC money, despite fears of saturation.
The portal was launched last month, and offers home decoration and utility products across categories such as kitchen, bed and bath, outdoor, kids and accents among others. In addition, it also offers an international collection of products such as wine glass set, teapot, bowls and others.
Zansaar was founded by Jawad Ayaz and Vinod Chandran. They had previously started 20north.com, an e-commerce portal that sourced international products. It is currently under maintenance and will reportedly be re-launched, later this year, as the report notes.
Tiger Global recently invested $21 million in Myntra while Accel invested in BlueStone, an online jewellery portal, funds worth $ 5 million. Both the investors have invested in multiple ecommerce ventures including Flipkart, LetsBuy, BabyOye and others.