Bangalore Based Online Photography Company Canvera raises $6.5M in Series B from Info EdgeTeam YS
The funds will be primarily used for expanding sales and marketing operations. In addition, the fresh money raised will also be invested for building various hosted solutions for photographers.
Dhiraj Kacker, CEO and co-founder of Canvera, said, “Vivyo is a social and e-commerce platform for photographers where they can market and sell their photos and collaborate with buyers. It was launched a little over a year ago and is shaping up well. Money will also be used to strengthen this platform.”
Headquartered in Bangalore, Canvera has regional offices in seven cities across the country – in Chandigarh, Delhi, Kolkata, Chennai, Hyderabad, Ahmedabad and Mumbai. Right now a team of 550, Canvera intends to hire 100 more employees by the end of this year.
Kacker said, “Info Edge has made a number of investments previously in companies such as Zomato, Meritnation, MyDala, PolicyBazaar, 99labels and more. But this is its largest investment till date. Info Edge can be credited with building scalable and highly profitable online businesses across India. And it understands the opportunities and challenges of building up a company.
“With Info Edge investing in us, we would get an access to their senior management. So whenever we face any kind of operational challenge, we will sail through by taking their help,” he added.