InkFruit Raises $3 Million From SAIF Ventures And the funding train continues. InkFruit – an online apparel retail that crowdsources designs has – according to VCCircle – raised up to $3 Million from early stage venture capital firm , SAIF ventures. SAIF ventures was also an early stage investor in MakeMyTrip and has around $4 billion of assets under management.

InkFruit Raises $3 Million From SAIF Ventures And the funding train continues. InkFruit – an online apparel retail that crowdsources designs has – according to VCCircle – raised up to $3 Million from early stage venture capital firm , SAIF ventures. SAIF ventures was also an early stage investor in MakeMyTrip and has around $4 billion of assets under management.

According to the article around $2.2 million of the Series A funding will go into the expansion plans and the remaining will be used to buy out the angel stake in the firm. Seedfund’s Anand Lunia, Paula Mariwala and Mahesh Murthy are among angel investors who invested in their individual capacities in InkFruit.  The company has reportedly raised close to Rs 1 crore in equity from them.

According to an unnamed backer quoted in the article, InkFruit does business upwards of Rs.3 Crore annually and is likely to expand its set of products to offer laptop bags and other accessories. The company is based in Mumbai.

Well, you can’t say online apparel and not think of Myntra. So I checked how it stacked up against the likes of Myntra and Pringoo. It din’t fair too badly based on what I saw at Alexa.

It also said this ‘inkfruit.com is visited more frequently by males who are in the age range 18-24, have no children, are graduate school educated and browse this site from work.’ Interesting that the ‘Time On Site’ and  ’Daily Pageviews per User’ are pretty high. Now it doesn’t necessarily translate all into sales, but the longer you can keep a shopper’s attention the more likely he/she is to make a purchase. I haven’t used it so I cant say what, but they are definitely doing something right.

Investments in the internet space were expected to be high in this decade and the month of January seems to have taken that pretty literally so far. Plenty of Funding news in the last few weeks. It isn’t too surprising given that Internet penetration is expected is shoot up in the coming years. On the flip side though, caution needs to be exercised by the investment industry as a whole. The last thing we need is a ‘bubble’.

Have you tried Inkfruit? Let us know what you think about it.

Source: WatBlog