Kartrocket gets seed funding from 5ideas Startup Superfuel, 500 Startups

According to The Economic Times, the round is worth $250,000.

Kartrocket - which is owned by BigFoot Retail Solutions - allows user to launch their own online stores. It also provides domestic and international payment options and shipping tie-ups with logistics firms. Kartrocket will use the funds to increase sales by scale up services and technology.

"The ability to sell across multiple markets and countries plus being able to manage the whole process from one dashboard is critical for retailers. It allows them to cost effectively scale their sales and operations with ease," said Pankaj Jain, a venture partner at 500 Startups.

Since its launch earlier this year, Kartrocket has acquired over 100 customers and more than 500 trial customers. Its categories include clothing, accessories, mobile and electronics, food, baby products, home and garden and industrial products. The platform expects to have 2,000 customers by year end.

5ideas Startup Superfuel is a venture capital initiative that provides seed investment and mentorship for tech start-ups in India.

500 Startups provides early-stage companies with up to $250,000 in funding and has recently been focusing more on India, having recently hired Jain. Last year it launched the $5 milion India-focused vehicle 500 StartupWallah.

Earlier this month, India e-commerce leader Flipkart closed the biggest round of venture funding the industry has ever seen with existing investors Accel Partners, Tiger Global, Iconiq Capital and Naspers investing a total $200 million, valuing the company at $1.5 billion.

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• Topics
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• South Asia
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• Technology
• India
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• 500 Startups