Top News

eYantra raises $7.8 million in Series B funding led by Argonaut Private Equity

Hyderabad-based brand merchandising and corporate gifting solutions company eYantra has raised $7.8 million in a second round of funding led by Argonaut Private Equity. In October 2008, eYantra had raised $3.1 million in a first round of funding from VenturEast Proactive and Argonaut.

Hyderabad-based brand merchandising and corporate gifting solutions company eYantra has raised $7.8 million in a second round of funding led by Argonaut Private Equity. In October 2008, eYantra had raised $3.1 million in a first round of funding from VenturEast Proactive and Argonaut.

eYantra plans to utilise 40 per cent of the Series B funding to acquire Bangalore-based Hourglass Essentials, which has 10 online brand stores and 3 retail stores; a Chennai-based online product customisation company; and a New Delhi-based basic office supplier.

According to Phani N Raj, managing director, eYantra, the three acquisitions will add Rs 30 crore to eYantra’s expected revenues of Rs 55 crore this financial year (Rs 33 crore in FY09). “The remaining fund would be used to equip our 1.1-million T-shirts capacity per year facility with technologies laser-embossing and 3D sublimation by May this year,” Phani N Raj has added. [Source: Business Standard, VC Circle]

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close