Aug 17, 2013 (Sat): Organicshop.in, founded in 2012, has raised the first round of funding from RAIN (Rajasthan Angel Investor Network). Mr. Mahavir Pratap Sharma, Charter Member, TiE Rajasthan and Co-Founder RAIN, helped in raising first round of funding from RAIN, which was their first venture.
RAIN is a network of angel investor from Jaipur. Out of 24 RAIN members, 13 have invested in Organic Shop for equity of 30%. The present valuation of Organic Shop is 1 cr. The investor shall remain invested for next 3 years.
“This validates the business idea and shall give us an opportunity to explore global markets and better branding.” said Manuj Terapanthi, Founder and CEO of Organic Shop. He further added that the funds shall be used for better customer experience on the website, branding and expanding to USA.
Organicshop.in is an online marketplace for certified and branded organic products in India. It also offers Ayurvedic and herbal products. Organicshop.in offers widest range of products which includes food, textiles, clothing, cosmetics, and wellness and health supplements. Organicshop.in continues to strive to be the leading marketplace and One-Stop shop for all organic products in India. Currently, the online shop features about 26 brands and more than 1300 products.
Such investment shall give a big boost to other start-ups from Rajasthan looking for mentoring and angel funding.