Inventus, Ojas lead $3.5m Cbazaar round

Following this investment, Samir Kumar, managing director for Advisory Services at Inventus, and Ojas Partner Pavan Krishnamurthy, will join the Chennai-based company's board.

Cbazaar.com, which was launched to the global market in 2005, and more recently to the Indian market, will use the new capital to enhance its brand positioning and take advantage of opportunities in the digital space.

"The market that Cbazaar addresses is very large, and we're confident that with this capital infusion, the entrepreneurs will propel the company to a higher level of growth," said Inventus' Kumar.

The company - whose portal houses one of the largest ranges of Indian couture on a single website - has experienced year-on-year growth of more than 100%.

Cbaazer's co-founders are Rajesh Nahar and Ritesh Katariya. Nahar is the business' current CEO, while Katariya is COO.

Earlier this year, L Capital Asia, the private equity arm of LVMH, bought Wolfensohn Capital Partners' 8% stake in another Indian fashion company, Fabindia. Founded in 1960, Fabindia is well known for its handmade products.

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• Topics
• South Asia
• Consumer
• Expansion
• Venture
• India
• Consumer
• L Capital Asia
• Wolfensohn India Advisors