E-commerce Startup Zansaar Secures USD 6 Million from AccelPartners & Tiger Global
Tuesday February 28, 2012,
1 min Read
Accel Partners and Tiger Global today announced that they have invested USD 6 Million in Bangalore based startup Zansaar, online retailer of home decor products.
Zansaar was launched in January 2012 by serial entrepreneurs Jawad Ayaz and Vinod Chandran. Jawad and Vinod previously founded another e-commerce venture 20north.com.
Speaking about why they chose to invest, Subrata Mitra of Accel Partners said, “We think very highly of the Zansaar team, and they are well aligned to execute on a rather complex category.”
The funds shall be majorly used for marketing and building the warehouse and supply chain capabilities.
The team behind Zansaar currently is 55 people strong. Jawad aims to double the team size in the next 3 - 4 months.
Speaking about partnering with Accel, Jawad said, “Accel has made some marquee e-commerce investments in the past, and they are the best investment partner in this business.”
Jawad says that, “Having differentiated products is the key. Commodities at cheapest price-points are no longer of value in e-commerce business in India.”
Accel has recently invested USD 5 Million in another single-category e-commerce venture BlueStone.com.
Watch out this space for all the interesting updates from Zansaar.