Gifting portal Giftcart.com has been launched in private beta by Delhi-based Giftcart Ecommerce. The company has also received $1 million as seed capital from TekCorp. According to a VCCircle report, the company will use the funds to develop the portal platform, implement business/customer processes and build a supply chain.

Giftcart is targeting both Indian residents and NRIs who want to send gifts to their friends and families in India. Giftcart is also looking to fill top posts like president and experience executive officer (EEO), VP – marketing and VP – technology.

The company was founded in 2012 by Shaloo Reddi, Managing Director and Kristina Hermanns, Director and GM for customer experience. Giftcart claims to have tied up with 60 local and international brands. Shaloo Reddi, MD, Giftcart.com, “Giftcart.com will provide its patrons a chance to choose from a gamut of gifting options. From gifting a tangible product to an unprecedented experience, Giftcart.com will change the face of gifting.  It will not only ensure timely delivery of exquisite gifts to your near and dear ones but would also provide a platform, wherein gifting becomes the most joyous and a wonderful experience.”