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Kartrocket completes $8 million round of funding with new investor


Kartrocket, an e-commerce platform for SMEs and retailers, said that it completed its round of funding in January and with a new unnamed Japanese investor. The size of the investment now stands at $8 million from the earlier $6 million.

The round of funding saw participation from Bertelsmann India Investments (BII),  Nirvana Digital India Fund, Nirvana Digital Investment, 500 Start-Ups and Singapore-based Beenext.

Kartrocket also said that it will be using the funds primarily towards enhancing its marketplace Kraftly, a mobile-first offline-to-online marketplace which targets small seller communities and home entrepreneurs in India in categories such as apparel, accessories, home, crafts, and other unique and eclectic products.

Kartrocket launched Kraftly in August 2015 and the marketplace allows shop owners to create their own branded micro-shop, list products and receive payments. Kraftly manages payments and logistics for each seller and allows the long tail of small and home sellers to go online. Sellers can also sell directly to their contacts from the app through Whatsapp and collect payments. According to Kartrocket, it doesn’t charge any commission on orders placed through Whatsapp, and collects a 5% commission on orders received through Kraftly. Currently, Kraftly says that is has more than 15,000 shops, and that it adds over 17,000 listings per day.

Earlier funding: In October 2014, , Kartrocket raised close to $2 million in a Series A round of investment led by the technology venture investor Nirvana Venture Advisors. Japan-based Beenos (NetPrice) and existing investor 500 Startups also participated in this round.

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KartRocket had raised an undisclosed amount of funding in a seed round led by 5ideas Startup Superfuel, with participation from Dave McClure’s 500 Startups and angel investor Jatin Aneja, in July 2013.

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