KartRocket closes $8 Mn funding round; Will enhance its mobile marketplace Kraftly

E-commerce enabler KartRocket on Tuesday said it has raised $2 million (nearly Rs 13.45 crore) from a Japanese investor. With this, the company has now closed a $8 million (nearly Rs 53.8 crore) funding round. It, however, did not disclose details about the Japanese investor.

In January, Bertelsmann India Investments (BII), Nirvana Digital India Fund, Nirvana Digital Investment Holding Co, US-based 500 Start-Ups and Singapore-based Beenext had pumped in $6 million (nearly Rs 40.34 crore) in the company.

Catering to small and medium enterprises, KartRocket enables merchants to go online under their own brand. It provides the web and mobile site, payments and logistics capabilities, in-built marketing and promotion tools to provide an end-to-end e-commerce experience.

“Major part of the funding will be mobilised towards enhancing the next-generation mobile marketplace Kraftly, which is a mobile-first Online to Offline (O2O) marketplace,” KartRocket said in a statement.

Kraftly targets small seller communities and homepreneurs in India in categories like apparel, accessories, home, crafts, and other products. It has more than 15,000 shops and is adding over 17,000 listings per day, the statement said.

“The investment will help us with cutting-edge product development, talent acquisition, seller ecosystem development and performance marketing,” KartRocket CEO and co-founder Saahil Goel said.

The company has recently appointed Ankit Sood as the Chief Financial Officer and Akshay Ghulati has been roped in as Chief Business Officer for Kraftly.

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