Online printing solutions provider Printland has raised an undisclosed amount of funding from SIDBI Venture Capital, a 100% subsidiary of Small Industries Development Bank of India (SIDBI), reports iamwire. The funding will be used to invest in technology, launching new products and client acquisition. Printland was advised by Langham Capital on this funding.
Printland’s previous SIDBI and Evista VC funding
In September 2013, Printland had raised Rs 5 crore in debt and equity from SIDBI and existing investors Evista Venture Capital and Sanjeev Kakar. The company was to use the investment to expand its solutions globally. Prior to this, the company had raised $164,000 from Evista Venture Capital in March 2013. The company had then planned to use the funds for product development, technology upgradation, supply chain automation and marketing.
As of January 2013, the company had claimed to have 15,000 customers, of which 80% were small and medium enterprises. The company had also claimed to have registered around 1,500 orders per month with an average transaction size of Rs 4,500 at that point.
Launched in January 2012, Printland was founded by Udit Bansal with Sanjeev Kakar, the director of Aegis Centre for Entrepreneurship joining in with an investment of $9 million seed capital as indicated by this Business Standard report. Kakar also got Sandeep Behl on board as a co-founder and mentor; and Amit Jain, CEO and co-founder of CarDekho.
Custom printing solutions for SMEs and SOHOs
Printland offers customised (ready made and customisable) printing and gifting solutions for corporates and individuals. Its website states that it also offers marketing solutions to brands in India with ‘thousands’ of designs. For corporate printing and promotional merchandise, it specifically targets SMEs and small office/home office (SOHO) businesses who can get business cards delivered across the globe through its portal.
It provides templates for business cards, letterheads, envelopes, folders, notepads, self-inking stamps, flyers, brochures, presentations, catalogs, magazines, banners, stickers, and merchandise like pens, cardholders, keychains, mugs, T-shirts and calendars. It also claims to offer specialised designs for schools and educational campuses and the education, pharma, IT, FMCG and retail domains.