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Accel and Tiger Global boost Zansaar with $6m

  • Susannah Birkwood
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Accel Partners and Tiger Global have invested $6 million in Bangalore-based e-commerce start-up Zansaar.com to support the brand’s organic growth.

Owned by Singapore-based Salar Online, Zansaar sells home décor products. It will channel part of the funding towards maintaining its inventory, building its warehouse and supply chain capabilities, and increasing its marketing spend.

"We think very highly of the Zansaar team, and they are well aligned to execute on a rather complex category," said Subrata Mitra of Accel Partners, who joins the company's board.

Zansaar was launched in January by co-founders Jawad Ayaz and Vinod Chandran. It currently employs a staff of 55 and plans to double this number over the next 3-4 months.

Accel and Tiger Global have backed numerous Indian e-commerce firms in the past. Some of these are now attempting to consolidate the industry, such as Flipkart, which purchased rival e-commerce platform Letsbuy.com for an estimated $25 million last month.

Industry participants expect a spate of acquisitions this year as VC-backed companies struggle to remain capitalized in a marketplace which welcomes new entrants on an almost daily basis. Exclusively.in, also backed by Accel, Tiger and Helion, has reportedly been making redundancies and is up for sale.

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