Bertelsmann leads round for Indian e-commerce platform

Kartrocket will use the capital to expand its team, develop new products and improve its marketing efforts, according to a YourStory report linked from Kartrocket's Twitter. Existing investors Nirvana Digital India Fund, Nirvana Digital Investment Holding, 500 Startups and Beenext also participated.

Kartrocket's provides tools for Indian entrepreneurs to build e-commerce sites. It offers templates for web and mobile sites, built-in marketing and promotion tools, integrated payment and logistics capabilities, and integration with other e-commerce sites such as eBay and Amazon.

In addition, the company recently launched the mobile-based online marketplace Kraftly for categories such as crafts, accessories and apparel. The site targets small businesses and individual sellers.

"There are over 50 million homepreneurs and small sellers in India that currently do not have a medium for launching their sales online," said Saahil Goel, co-founder and CEO of Kartrocket. "By bringing such sellers online we're building the largest supply base of unique products for buyers to choose from."

Kartrocket's most recent funding was a $2 million round led by Nirvana Venture Advisors in 2014, with participation by Beenos and 500 Startups. 500 Startups also participated in a seed round for Kartrocket in 2013 worth $250,000, along with 5ideas Startup Superfuel, a seed fund for Indian tech start-ups.

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• Topics
• South Asia
• Consumer
• Technology
• Expansion
• Venture
• India
• Technology
• Consumer
• TMT
• Growth capital
• Venture
• 500 Startups
• Bertelsmann Asia Investments
• Nirvana Venture Advisors