Gurgaon-based Printvenue raises $4.5M from Asia Pacific Internet Group
In 2013, when YourStory interviewed Saurabh Kochhar, the Founder of Gurgaon-based printing solutions startup, he told us, “We hope to hit 1,000 product deliveries in one day.” Back then they were delivering 160 products a day.
Today, the Rocket Internet-backed printing platform, Printvenue.com, has raised USD 4.5m of funding from Asia Pacific Internet Group (APACIG). APACIG is a joint venture of Rocket Internet and Ooredoo. Through this funding, the company will join APACIG’s network.
At present, Printvenue is delivering 700,000 items and has shown significant double digit month-on-month growth. That means they are fulfilling on average 1,918 per day, almost twice the amount the founder used to dream of. The next milestone Printvenue.com has set its eye upon is touching revenues of $2 billion in the next five years.
Saurabh Kochhar, MD and Co-Founder at Printvenue.com, said, “The new round of capital investment will be used to expand our business within the Asia Pacific region and increase our market leadership in other markets by continuing our growth. In the long-run, it is our vision to become the world’s one-stop shop for all the printing needs.”
Apart from Printvenue, Rocket Internet has Zocprint and OfficeYes in their print portfolio.
Printvenue’s iOS and web platform enable users to order business cards, letterheads, cardholders and other personalized accessories such as photo-mugs, pen drives, and iPhone cases.
The company started operations in Singapore and Australia. In 2013, it claimed that 15% of its total revenue came from its Singapore operation.