#Asia India’s KartRocket gets US$6M from Bertelsmann, 500 Startups, others


KartRocket, which enables merchants to go online under its own brand, also runs mobile-first O2O marketplace Kraftly


India-based e-commerce enabler KartRocket has raised US$6 million in funding, led by Bertelsmann India Investments, a strategic investment arm of German media company Bertelsmann.

Existing investors Nirvana Digital India Fund, Nirvana Digital Investment Holding, 500 Startups and Singapore-based Beenext also participated in the round.

“The fresh investment will help us with cutting-edge product development, talent acquisition, seller eco-system development and performance marketing,” said Saahil Goel, CEO and Co-founder of KartRocket.

The funds will also be used to strengthen its recently-launched mobile-first O2O marketplace Kraftly, which is targetted at smaller sellers.

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KartRocket had earlier raised seed funding from 5Ideas Startup Superfuel and 500 Startups in 2013. Then in 2014, it received Series A funding from Nirvana Venture Advisors, 500 Startups and Beenos.

Launched in 2013 by Goel, Gautam Kapoor and Vishesh Khurana, KartRocket is a SaaS-based e-commerce company that enables merchants to go online under its own brand. It also provides a web and mobile site, payments and logistics capabilities, in-built marketing and promotion tools, as well as integrations with leading B2C marketplaces.

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The company claims to have over 7,500 shops in its network. Kraftly adds over 10,000 listings per day.

The post India’s KartRocket gets US$6M from Bertelsmann, 500 Startups, others appeared first on e27.

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