Canvera secures INR 35 Crores funding from Info Edge

Info Edge (India) Limited, the company which runs job search portal Naukri.com has invested Rs 35 cr in Canvera Digital Technologies which provides solutions to professional photographers.

On Canvera’s site, photographers can create their own  e-stores and also connect with prospective clients.  The Bangalore headquartered digital photography company also services markets such as weddings, fashion, private and corporate functions, corporate brand books etc.

According to BSE filing, the investment was made through optionally convertible cumulative redeemable preference shares. Earlier Info Edge has invested $ 2 mn in MyDala,  around $ 2 mn in PolicyBazaar and $ 3 mn in Zomato.

The company, founded in October 2007 launched their service in July 2008 and raised funds from DFJ/ Footprint ventures and Mumbai Angles. Canvera launched e-commerce and social platform for photographers in 2011.

Within a few months of operations, the company grew to more than 300 people with multiple offices and hundreds of salesmen. A large part of its revenue comes form the wedding segment.

To begin with, the founders had set out to create a business to consumer internet photography company however, it quickly evolved to service a wider market, connecting professional photographers, helping them create a brand, website and also selling their own products (read: Canvera – A Digital Services Company targeting Wedding Market Needs[Business Model Overview]).

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