Ahmedabad: Indofash.com, a Bengaluru based ethnic marketplace raised Rs 1 crore from angel investors, Shekhar Sahu and Nitesh Pant. The fund will be used to scale up its international presence.

Sahu & Pant are the former Co-Founders at HealthCareMagic, which was acquired by US-listed Ebix Inc. for $18.5 million in 2014. Sahu has also invested in more than seven start-ups, like in LocalQueen, KijiFoods and

Founded by Pallavi Mohadikar and Rahul Gayakwad, Indofash brings together arts and crafts from across India on its platforms to make it accessible to global audience. “We aim to bring 130 lakh artisans & weavers on board and enable them to sell their art online through our simplistic sellers’ app” says Mohadikar.

Mohadikar, an ex-IIM-Lucknow & ex-Glodman Sachs, has her roots in a weaver family which helped her to understand the lacuna existing in current ethic market.

According to her the only missing elements for weavers & artisans is the cost effective and easily accessible market connect. This connect is provided by the technology, where her co-founder Rahul Gayakward, an ex-IIT Bombay, fills the gap.

“This angel round is a great enabler for us to scale Indofash in next 6 months to an international audience” said Gayakward, adding that it also plans to raise second round within next six months which would be used to reach masses of artisans and weavers across India on supply side and global customers on demand side.

Indofash.com claims that it gets around 18000 unique visitors every day and nearly 80000 page views per day on its website. Currently, it does 100 plus transactions every day out of which 50 per cent of them are international orders.

Source: The Economic Times