 "Screenshot of Salebhai's home page")
Ahmedabad-based e-commerce portal Salebhai.com has raised Rs 10 crore from Brand Capital, the investment arm of Times Group. The company plans to use the proceeds for acquiring customers.
“Brand Capital has come on board with a deal size of Rs 10 crore for a minority stake in the company. I'm confident that our partnership with this esteemed establishment will help us expand our footprint and acquire more customers in India and abroad," said Vishwavijay Singh, Co-founder of Salebhai.com.
The company was launched on September 15, 2015 by Vishwavijay Singh, Purba Kalita, and Pramod Rao, after they identified a market gap, led by people migrating within India and abroad and goods representing their culture were mostly in short supply.
After studying migration trends among Indian citizens, it was observed that most people moved to fast growing cities like Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata, and Mumbai either due to employment opportunities, education, or marriage.
Singh said, "We are focusing on requirements of over 17 diaspora communities living in big Indian cities as well as those who live abroad. With products sourced from over 100 cities and 250 select vendors, the company provides people with an opportunity to buy products in various categories from sellers across India."
Salebhai.com hopes to increase sales through web personalization and marketing automation in the next couple of years. The company has a strong team which consists of professionals with proven expertise in IT, marketing, content development, innovation, disruptive thinking, channel management, logistics, and customer support.
