Web-based printing solution provider Printland.in has raised Rs 5 crore in debt and equity from Small Industries Development Bank of India (SIDBI) and existing investors Evista Venture Capital and Sanjeev Kakar, reports The Economic Times.
Printland.in co-founder and CEO Sandeep Behl told the publication that they plan to use the investment raised to expand its solutions globally. Prior to this, the company had raised $164,000 from Evista Venture Capital in March 2013.
Launched in January 2012, Printland provides business printing solutions which includes printing of business cards, documents, letterheads, envelopes, project reports, manuals, certificates, flyers, pamplets and brochures among others. It also provides corporate merchandise printing solutions like coffee mugs, travel mugs, pen drives, mousepads, t-shirts, corporate clocks, calendars, notebooks, and stickers among others.
Besides corporate solutions, it also offers consumer printing solutions like personalized gifting products (Personalized coffee mugs, T-shirts, wall and table clock, smartphone covers, hoodies and others), home decor products (name plates, tote bags, canvas prints and others) and school products (school bags, labels, notebooks and others).
The company claims to have 30,000 corporate and small and medium enterprise clients, up from 15,000 customers reported in January 2013. The company had however then noted that 80% of its customers were small and medium enterprises. Printland.in has also reportedly generated Rs 4 crore revenue in its first operational year and hopes to generate Rs 12 crore in FY 2014, as indicated by the report.
Competitors: Printland.in competes with Printo Document Services which has secured funding from Sequoia Capital, SeedFund and Blume Ventures, Rocket Internet-backed Printvenue and Printbindaas which had received angel funding from Manoj Kumar Swain and Rajesh Garg in August 2012.
Alma Mater, a customised printing solution provider focusing on schools and colleges, had also received funding from Indian Angel Network in November 2012, while the online photo printing startup Zoomin had also raised around $1.5 million from SVB India Finance in January 2013.
Online printing organization Vistaprint had also acquired PrintBell in June 2011, to setup Vistaprint India which offers corporate printing solutions like business cards, letterheads and embroidered clothing among others.