Ethnic Product Marketplace CraftsVilla Raises $18mn In Series B Led By Sequoia Capital

Indian online marketplace for ethnic products CraftsVilla has announced that it has raised $18 million in Series B funding led by Sequoia Capital.
CraftsVilla plans to utilize the recently raised capital to grow its team and invest in scaling its technology platform.
The four year old company boasts that it currently has 2 million unique products listed on its site, from over 12,000 artisans and designers across the country.
Further, CraftsVilla registers over 1 lakh transactions a month, and aims to grow 10 fold by the end of the year, with over 20 million product listings.
So far, the company has managed to bring order in the highly disorganized ethnic craft industry in India, and has also enabled micro-entrepreneurship.
The investment was primarily driven by CraftsVilla’s understanding of the fragmented ethnic supplier base in the country, putting it in a great growth position.
Other notable investors who participated in the Series B round include Nexus Venture Partners, Lightspeed Venture Partners and GFC.

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