Mumbai based online retail store for education related products Skoolshop has raised an undisclosed amount of investment from Blume Ventures and other angel investors, a top company official told NextBigWhat.
Satya Raghvan, co-founder, Skoolshop told NextBigWhat: “Its a normal seed round and we would be using fund for business development and to increase our team size.”
The company, which deals in both Business to Business (B2B) and Business to Consumer (B2C) space, did not disclose the amount of investment. Blume Ventures typically co-invests in the range of $500k- $1.5 mn.
Angel investors – Sunil Kalra, Srikant Shastri, Vikas Choudhary and Puneet Deora, participated in the round.
The company had raised another round of investment in December 2011 from Jaspreet Bindra, CEO, Getit and Rajan Anandan, Managing Director of Google India.
Launched in 2011 by Harvard alumni Satya Raghavan and Anusha Mahalingam, Skoolshop presently works with large school chains by managing their supply-chain and stationary and supplies.
The company retails over 250 categories of products online. “We have a range of new launches for both our Consumers and School Customers over the next 6 months. We are also partnering with many more brands to help them reach a wider customer base”, said Satya.
Online retailers operating in school and learning needs usually make 10-15% margin on stationery supplies including many of the bulkier items such as fitness related equipment for schools, and 15% in toys, lifestyle stationery to 50% odd in some sports related equipment. However, it differs widely depending on factors such as whether the company stocks the products or not, volume of pickup and point of sale.