India's KartRocket ups Series B by $2m
Indian e-commerce platform KartRocket has raised $2 million, adding to the company's Series B round announced in January.
The new investment came from a Japanese investor that the company has not identified, according to a Livemint report linked from KartRocket's Twitter. It brings the total capital raised in the Series B round, which was led by Bertelsmann India Investments with participation by Nirvana Digital India Fund, Nirvana Digital Investment Holding, 500 Startups, and Beenext, to $8 million.
KartRocket provides tools for Indian merchants to enter e-commerce. The company provides merchants with web and mobile-optimized sites, along with payments, logistics and marketing capabilities. Most of the Series B round will be used to enhance Kraftly, its mobile-focused online-to-offline marketplace targeting small sellers, individuals and home-based entrepreneurs.
BigFoot Retail Solutions, which owns KartRocket, raised $250,000 in 2013, in a seed round in which 500 Startups and Indian tech seed fund 5ideas Startup Superfuel participated. In 2014 it raised a further $2 million in a Series A round led by Nirvana Venture Advisors, with participation by Beenos and 500 Startups.
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