Silicon Valley and Bangalore based Inksedge, an online destination for personalized, designer Indian stationery, closed a $1.5 million seed round today, led by New Enterprise Associates (NEA). This round also saw participation from Pinnacle Ventures, Anand Rajaraman’s Milliways Ventures and distinguished angel investors including Nickhil Jakatdar, Gokul Rajaram, Mark Perry, and Anil Kamath.
Inksedge plans to use the newly raised funds for marketing, fulfillment infrastructure and to launch new products including a wedding paper collection in 2015.
Inksedge claims that the event stationary is a $1Billion offline segment which is fragmented with lack of good designs. Inksedge taps into the Indian consumer’s desire for quality design, exclusivity and a highly personalized user experience.
“Just as most women don’t buy clothes from a general goods store offline, savvy internet users seek branded, consistent experiences for design oriented categories rather than buy just from a generic marketplace. That is a significant business opening that Inksedge is committed to fulfilling in the events space,” said Rohini Chakravarthy, Founder and CEO, Inksedge.