The raised funding will be used to scale up and expand into markets outside of India, iamwire.com reports. Manoj Gupta, CEO & co-founder of Mumbai-based Craftsvilla, said the new capital will be used to spruce up the company’s technology backbone, push its mobile presence and expand into south east Asia.
Founded in 2011 by couple Manoj and Monika Gupta, Craftsvilla has 12,000 merchants selling 2 million products on its platform. It sells products categories including clothing, handicrafts, jewellery and art. Kriba Handicrafts, which runs Craftsvilla.com, had raised USD 1.5 million in 2011 from Nexus and Lightspeed.
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