Bluegape Raises Funds Through Online Platform LetsVenture [DealCurry (India)]
(DealCurry (India) Via Acquire Media NewsEdge) Delhi based two year old startup Bluegape has raised funds over R1.5 Cr through an online funding platform LetsVenture.com, says ET. The funds will be used to strengthen its supply chain and scale up its technology.The funding was completed in two months with eight different angels from countries such as Ukraine, Singapore, US and India.Online brand merchandising store Bluegape sells merchandise like T-shirts, posters, mugs and laptop skins for brands and has reached to 50+ transactions a day. The company has retailed fan merchandise for films such as Krrish 3, Batman, Superman, Aam Aadmi Party and others.The firm has also spoken to brands like Indian Ocean, Parikrama and The Viral Fever for fan merchandise. The team of Bluegape aspires to cross a figure of 5000 orders a day in online sales while in offline retail stores, the company is hoping to have independent 1000+ stores by the end of 2013.It had raised an undisclosed amount of funding as convertible notes in a seed round from Aniket Khera and Rahul Bhatia. It has a turnover of R5 Cr. TLabs, the startup accelerator launched by Times Internet Group had invested a sum of R10 Lacs as seed funding to scale up their business.The co-founders are in talks with big names like Polaris, Vodafone and Honda to make their merchandise and are looking to raise $1-5 Mn from VC soon.Last year, 125 licensees did a business of $184 Bn and Bluegape is seeing a market of $60 Bn in India in Fan Merchandising.Funding platform LetsVenture.com enables startups looking to raise seed money to create investment ready profiles online and connect to accredited investors. It has grown to 200 global investors and 250 startups. Matrix partners is one of the investor of the platform.
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