Delhi based startup KartRocket, a do-it-yourself (DIY) e-commerce platform for Indian small and medium businesses (SMBs) and retailers, has secured $6 million in its Series B round of funding led by Bertelsmann India Investments (BII).
Nirvana Digital India Fund, Nirvana Digital Investment Holding Co Ltd, US-based 500 Startups and Singapore’s Beenext also participated in the fresh round of funding.
The funding will be used towards product development, talent acquisition, seller ecosystem development and performance marketing.
KartRocket was founded in 2012 by Saahil Goel. The startup provides a DIY e-commerce platform that enables Indian SMEs to launch their own e-commerce sites. The offerings include a number of storefront designs, domestic and international payment options, a shipping platform (ShipRocket) integrated with domestic and international logistic carriers, as well as a single shipping dashboard that helps SMEs manage their shipping and returns.
Kartrocket also forayed in C2C space and rolled out Kraftly to tap 50 million homepreneurs. Kraftly competes with Snapdeal’s mobile focused C2C platform – Shopo and Paytm.
Kartrocket raised $2 million in its Series A round of funding from Nirvana Venture Advisors, 500 Startups and Japan-based Beenos (NetPrice) in October 2014. The company competes with Zepo, Infibeam’s Buildabazaar in e-commerce enablement segment.
The Indian e-commerce industry is projected to grow by 15 times in the next five years and is expected to become a USD 75 billion industry by 2020. On the other hand, the estimated number of unorganised sellers is about 50 million. Snapdeal plans to invest USD 100 million in Shopo.