E-commerce enabler KartRocket secures close to $2 M funding from Nirvana Venture, 500 Starups & Beenos
October 22, 2014, Updated on : Thu Sep 05 2019 07:30:18 GMT+0000
The Delhi-based SaaS e-commerce enablement platform, KartRocket, has raised around $2 million in its Series A investment led by technology venture investor Nirvana Venture Advisors, 500 Startups and Japan-based Beenos (NetPrice).
The company will use the round in solving problems around cataloging, mobile, traffic generation, discovery and having presence in tier II and III cities. In July 2013, KartRocket had raised angel round from 5ideas, 500 Startups and angel investor Jatin Aneja.
Brainchild of Saahil Goel, Gautam Kapoor and Vishesh Khurana, KartRocket is an end-to-end e-commerce enablement platform that allows SMEs to create their e-commerce store, mobile app, accept online & COD payments, ship their orders across India and also get sales from marketplaces such as Amazon, eBay and Snapdeal.
“We’ve already done a lot of heavy lifting in the past year helping design software, integrations and processes to solve pain points in building a website, a mobile site, integrating a payment gateway and most importantly powering automated and cost-effective shipping for Indian SMEs,” said Saahil Goel, CEO and Co-founder, KartRocket. “We want to solve the next set of problems around cataloging, mobile, traffic generation & discovery. We’re also planning to expand our presence pan-India, including a heavy focus on smaller cities.”
At present, it has over 1900 paying customers and 10,000 customers in trial. Its clientele base includes Da Milano, Uni Style Image, Valyoo Technologies, and Tantra tshirts among others. Importantly, the company achieved operational break-even in September this year and plans to scale to 10,000 paying customers in the coming year.
“KartRocket has rapidly proven that they can service the Indian SME market by offering a true end-to-end e-commerce platform on a subscription model,” said Rajan Mehra, Managing Director, Nirvana Venture Advisors. “The team has made tremendous progress in the last year and we’re excited to be working together with them to create a market leader.”