#Asia Sequoia leads US$34M in Indian ethnic products marketplace Craftsvilla

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Yuri Milner along with Global Founders Capital, a VC fund run by Rocket Internet’s Samwer brothers, also participated

ethnic

Craftsvilla, an online marketplace for Indian ethnic products, has secured US$34 million in fresh funding, led by existing investors Sequoia Capital India and Lightspeed Venture Partners.

Yuri Milner of DST Global Partners, besides existing investors Nexus Venture Partners and Global Founders Capital (run by Rocket Internet‘s Samwer brothers) also co-invested in the round.

The capital will go into building Craftsvilla’s engineering and product capabilities, enhancing customer care, as well as to scale products.

Also Read: Are Indian startups headed for a bubble burst?

The startup had earlier received US$17 million from Sequoia, Lightspeed, Global Founders Capital and Nexus Venture Partners.

Started in 2011 by Manoj Gupta and Monica Gupta, Craftsvilla is an online marketplace for handmade, vintage, ethnic, organic and natural Indian products. The firm connects local artisans and designers directly to global customers.

The company claims to have listed around 3.5 million products from more than 25,000 artisans and designers. Craftsvilla claims it reaches over a million customers everyday through its website and mobile app.

Image Credit: India Picture/Shutterstock

The post Sequoia leads US$34M in Indian ethnic products marketplace Craftsvilla appeared first on e27.

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