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Online ethnic wear store Cbazaar raises Rs. 18.6 cr Series A from Inventus and Ojas

Ethnic wear and accessories ecommerce portal Cbazaar.com has
raised Series A funding of US$ 3.5 million (Rs. 18.6 crore) from Inventus
Capital Partners and Ojas Venture Partners. Cbazaar.com was launched in 2005,
completely on bootstrapped funds with an initial capital of Rs 12 lakh. At
present Cbazaar services customers from across the world with shoppers from

Ethnic wear and accessories ecommerce portal Cbazaar.com has
raised Series A funding of US$ 3.5 million (Rs. 18.6 crore) from Inventus
Capital Partners and Ojas Venture Partners. Cbazaar.com was launched in 2005,
completely on bootstrapped funds with an initial capital of Rs 12 lakh. At
present Cbazaar services customers from across the world with shoppers from
more than 54 countries transacting with Cbazaar on regular basis.  As part of this financing round, Samir Kumar,
MD, Inventus Advisory Services and Pavan Krishnamurthy, Partner from Ojas will
join aboard.

Rajesh Nahar CEO & Co-Founder Cbazaar said, “We launched
Cbazaar.com in 2005 for the international market and have recently launched
Cbazaar.in for the Indian market. Our vision is to be the largest online
retailer of men’s, women’s, and kid’s ethnic wear and accessories.”

Ritesh Katariya, COO & Co-Founder Cbazaar added, “From
2005 we have built a strong supply chain structure with hundreds of vendors
across the country. We have fabrics and designs from every region in India.
Most of our customers are loyal to us because of the wide range of high quality
apparel, and the unique, customized tailoring facility which we provide to
them.”

Samir Kumar, MD, Inventus Advisory Services said, “We saw
two passionate and experienced Internet entrepreneurs in Rajesh and Ritesh, the
founders of Cbazaar, who had built a large, global customer base while running
a very capital-efficient business. The market that Cbazaar addresses is very
large, and we’re confident that with this infusion of capital, the
entrepreneurs will propel the company to an even higher level of growth.”

 Pavan Krishnamurthy,
Partner, Ojas Venture Partners commented, “Rajesh and Ritesh, founders of the
company have done a great job of building an e-commerce company with global
customer footprints across 54 countries completely on bootstrapped funds and
great product selection for customers. With the infusion of capital, we hope to
accelerate the growth trajectory of the Company manifold and help the company
to create a valuable business.”

Read more about Cbazaar on LaunchPad

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