Indian Angel Network invests in e-commerce player Shopatplaces
Indian Angel Network (IAN), an investor group of over 350 high networth individuals, has invested an undisclosed sum in Shopatplaces, an ecommerce player that offers geographic speciality merchandise.
IAN member B Hari, who has also joined Shopatplaces' board, led this round of investment, the investor group said in a statement in Mumbai.
The company was founded in 2012 by a team whose members had a background in supply chain and investment banking.
"IAN's investment will enable us to further build our product portfolio and service. Moving ahead, we plan to improve marketing to reach our target customer segment and scale up technology, front-end and back-end infrastructure," Zuhaib Khan, co-founder of Shopatplaces, said.
Shopatplaces is focused on apparel and accessories currently, and also offers curated jewellery, bags, shoes, home decor and fragrances, the company said.
It will enter the personal care category and extend services across the country from next month. Subsequently, the company will also source and deliver international geographic speciality products, it added.
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