Start-up Kartrocket raises USD 2,50,000 from angel investors

NEW DELHI: Kartrocket, an e-commerce platform for SMEs and retailers has raised funds from angel investors 5ideas Startup Superfuel and 500 Startups.

"The seed investment round has been led by 5ideas Startup Superfuel and co-invested by 500 Startups and angel Jatin Aneja," city-based BigFoot Retail Solutions, which owns the Kartrocket platform, said in a statement, without revealing the size of investment.

Industry sources said the seed investment is about USD 2,50,000 (about Rs 1.5 crore).

Kartrocket will use the funds to increase sales and scale up services and technology, it said.

Kartrocket allows sellers to launch web and mobile ready online stores and also provides domestic and international payment options and shipping tie-ups with domestic and international logistic carriers.

"The ability to sell across multiple markets and countries plus being able to manage the whole process from one dashboard is critical for retailers. It allows them to cost effectively scale their sales and operations with ease," said Pankaj Jain, venture partner at 500 Startups.

Since starting in January, Kartrocket has acquired over 100 paying customers and more than 500 trial customers, it said in the statement.

These were in categories such as clothing, accessories, mobiles & electronics, food items, baby products, home and garden and industrial products.

The platform expects to have 2,000 customers by year end, Kartrocket co-founder and CEO Saahil Goel said.

5ideas Startup Superfuel is a venture capital initiative that provides seed investment, human capital and social capital for tech startups in India.

500 Startups provides early-stage companies with up to USD 250,000 in funding.