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Canvera Raises Rs 4.5 Cr From Info Edge

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Canvera Digital Technologies which owns and operates the online photography service Canvera.com has raised Rs 4.5 crore investment from Info Edge (India) through optionally convertible cumulative redeemable preference shares, according to a BSE filing.

Bangalore-based Canvera offers products like photo books, photo albums, posters, photo prints and calendars among others. It also allows users to search and contact professional photographers based on city, state and occasion (engagement, anniversary, wedding, babies, conference photography, photo shoots and others). Besides this, it provides various solutions to professional photographers to showcase their photo portfolio. This includes image hosting, personalized website with themes & analytics, e-commerce integration, and social sharing among others. It offers this service through three different plans starting at Rs 3,000 per month (10GB storage), going up to Rs 9,000 per month (25GB storage) and Rs 12,500 per month (50 GB storage).

Info Edge Owns 26% In Canvera

Info Edge has invested a total Rs 42 crore in the company, which includes a Rs 35 crore investment round in August 2012. It currently owns 26% stake in Canvera Digital Technologies, on a fully converted and diluted basis, up from 23% as of March 2013 (pdf). Canvera had also raised an undisclosed amount of Series A funding led by Footprint Ventures, Draper Fisher Jurvetson, Mumbai Angels and two angel investors from the UK, in 2008.

Last month, Hyderabad-based online photography service Flatpebble had raised an undisclosed amount of investment from a series of angel investors. Online photo printing startup Zoomin.com had also raised around Rs 8 crore in venture debt funding from SVB India Finance in January 2013. Other players in this space include Printo which has investors like Sequoia Capital, Seed Fund and Blume Ventures and iTasveer. There was also HP’s Snapfish India which was shut in September 2013.

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Info Edge’s Investments in 2013

– Meritnation: invested Rs 10 crore, and has 55.81% stake. Read more
– Zomato: Rs 57 crore in November 2013, before which it invested Rs 55 crore in February 2013. Has 50.1% stake. More here and here
– Policybazaar: Invested Rs 2.5 crore in April 2013 (a total investment of Rs 32.5 crore). Has 32% stake.
– 99 Labels: wrote off Rs 29.3 crore invested. More here
– Nogle: wrote off Rs 2.6 crore invested. More here

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