Craftsvilla, Co-Founded by PGPX Alum Manoj Gupta Raises $19 Million in Series B Funding
0Craftsvilla has announced a $ 19 Million (Rs 110 Cr) round led by Sequoia Capital and supported by existing investors Lightspeed and Nexus and new investor Global Founders Capital. This comes as a shot in the arm for the company that is building India’s largest marketplace for ethnic apparel and products.
Craftsvilla.com offers close to 2 million unique products from more than 12,000 artisans and designers across the country.
The Mumbai-based company was founded in 2011 by CEO Manoj Gupta, an MBA (PGPX) from IIM Ahmedabad. Manoj, who was earlier with venture capital firm Nexus, which invested in retail powerhouse Snapdeal — saw the rise of online commerce and decided to jump into the space himself as an entrepreneur.
Speaking to Business Standard about the funds raised, Manoj Gupta said, “We started Craftsvilla with the objective of providing people across the globe a way to reconnect with their roots. Today, we are one of the fastest growing e-commerce companies in India with a profitable business model. We are excited to partner with Sequoia and get the benefit of their company building experience in taking Craftsvilla to new heights.”