Delhi based online shopping portal edabba, has secured funding of Rs 4.5 cr from C Cube Angels, a Singapore based angel firm.
Omnipresent Retail India which runs edabba had raised $ 1 million from angel investors in April last year.
The e-tailer has developed a mix of online and offline stores to sell goods.
The investment firm, C Cube has invested in companies such as Reasoning Global EApplications Pvt Limited, Adception Infotech Pvt Ltd, Simbus Technologies Pvt Ltd and Applied Mobile Labs (Expert Voicetap Technologies) among others.
Currently, the online retailer has more than 400 trustpoints across 9 states and more than 150 cities in India. The portal offers products in all major consumer electronic categories such as cameras, home appliances and mobiles. It also sells jewellery and has a private label brand by the name “Saashi”.
Manoj Kumar, CEO and Co-Founder of eDabba said that the company did a turnover of Rs 19 cr in FY13 and is targeting sales of Rs 80- 100 cr this year. At present the firm is clocking more than 10,000 orders each month with an average ticket size of Rs 5,000.
“The funds will be used to scale operations and reach to more cities to set up a larger network of trust points,” said Kumar.
Earlier, in an interview with NextBigWhat, Manoj explained how the company’s approach to ecommerce is different. “The idea is to develop a large franchise network through our eDabba trust points. The consumer, who does not have access to technology, can come to our trust point and the franchise will place an order on his behalf”, he said.