Picsquare earlier secured funding from Bhola Digital Labs and had raised $75K in seed round earlier.
InfiBeam, a year old startup has been e-tailing products – started with auto, then diversified into mobile/electronics/lifestyle etc; and Picsquare acquisition will enable them to get into gifts and photo printing business.
Manish (founder, Picsquare) mentioned that Picsquare will retain it’s current form (brand identity as well as product mix) and the deal will enable both the companies to get access to each other’s customers as well as resources.
Digital printing business has witnessed quite a few acquisitions as well as investments:
- HP’s Snapfish entered Indian market
- SnapFish acquired MeraSnap
- Digital Photo Printing Startup, Canvera raises funds from DFJ, Footprint and Mumbai Angels