eInsignia Infosoft Private Limited which operates the online gifting service Badhai.in has raised $200,000 (Rs 1.094 crore approx) from private investors, reports Pluggd.in. The report states that the company plans to use the funds raised to build a new mobile app, improve its operations and for marketing purposes.
Started in March 2012, Badhai.in allows users to gift eVouchers across multiple brands either through the web or mobile. These vouchers are delivered through email and mobile and can either be redeemed at the company’s partner stores which includes offline retail stores like Croma, Lifestyle, Pantaloons, Big Bazaar among others and e-commerce portals like Flipkart, Inkfruit, Goibibo and many others.
In May 2012, the company had introduced social gifting and group gifting features to the portal. While group gifting enabled a group of users to put together their contributions and send a combined eVoucher, social gifting allows users to keep track of various occasions like birthdays, and anniversaries of their Facebook connections and send or schedule gift vouchers to them. One thing worth noting is that, Badhai.in allows users to redeem these vouchers partially over several occasions and across multiple brands although these vouchers are non-refundable and valid for one year from the date of purchase. , according to the company’s website.
Users can currently send gift vouchers ranging from Rs 100 – Rs 50,000 within India and the company had claimed to have tied up with more than 35 brands across various categories like fashion, electronics, consumer durables, grocery, restaurants, health services, sports, entertainment and speciality stores, as indicated by India Digital Review.
Other Players: Delhi-based Giftcart.com offers gifts for Men, Women, Boys, Girls and Babies and had recently raised $1 Million in seed capital from Tekcorps. eYantra, a corporate gifting and brand merchandising company, owns a consumer business portal Foostor.com and corporate gifting solutions portal logoprint.in and had acquired Privilege Corner, a corporate rewards & recognition company in January 2012.
Intrasoft Technologies, which owns and operates the e-greeting cards site 123greetings.com, had also launched an online gifting e-commerce store in February 2011, which allowed users to send gifts along with greeting cards. According to the company’s latest quarter results (Q4 2012), this e-commerce store had shipped a total of 32,345 orders from 205 vendors.