Bluegape is a fan merchandising store that allows an individual to create his or her own customized products. In an announcement today, the company has raised a seed round from Aniket Khera, Rahul Bhatia and one more internet entrepreneur. Bluegape was a part of the TLabs accelerator where it had got a financing of INR 10 lakhs. The funding is in the form of convertible notes.
Headquartered in New Delhi, the company was started in August 2011 by Sahil Baghla and Ayush Varshney (read their pivot+pivot story). They started with an objective to provide a platform through which people can find products of their choice and if they are unable to find them, then they can simply create it. One can also customize products like T-Shirts, Mugs, Laptop Skins, Cushion Covers and more. The company has generated traction across India and does around 150 transactions a day with 1.5 lakh unique hits every month.
Bluegape team is 18 member strong and the funding will be used to sign up with more brands for their Fan Merchandising rights and also improving on logistics & warehousing. All the three investors are alumnus of IIT’s and this further exemplifies the power of this closely knit community. The entire deal was closed within 15 days.
Bluegape is trying to become the one stop destination for all brands who want to
launch their Fan Merchandising in India, be it Mountain Dew with their 'darr ke aage jeet hai' tagline or Vodafone with their 'Zoozoos characters'. Last year, 125 licensees did a business of $184 billion and Bluegape is seeing a market of $60 billion in India in Fan Merchandising.