Marwari Catalysts' portfolio startup, Clickokart wraps up $100,000 to expand its B2C gifting marketplace

New Delhi [India], December 24 (ANI/SRV): With the changing times, personalized and customized gifting has tremendously caught the attention of everyone. Be it gifting your loved ones on their birthdays or wanting to send a personal touch to your gifts, Clickokart says it has the answer for all.
And today, Clickokart-- one of the companies that are riding on the wave of that ever-expanding B2C gifting universe -- is announcing that it has raised $100,000, a sign of the momentum in the space at the moment. The startup has raised its seed round of funding from strategic investors & corporate leaders, such as
,
,
,
,
,
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, and Savita Singh. The round also saw participation from existing investor
, India's fastest-growing startup accelerator.
The funds will be strategically allocated to strengthen the team, processes and product development in order to aggressively capture the market so as to raise the next round of funding at a valuation of $7 million and accelerate its growth in order to expand its footprint in India.
Founded in November 2018, Clickokart is a Bootstrap startup and the brainchild of three college friends turned entrepreneurs- Kundan Sinha, Mohit Sharma & Gaurav Gupta. In its initial journey, MCats had accelerated the Delhi-based Clickokart, a personalized gifting startup that came up with innovative and personalized collections, delivering a heart-warming and satisfactory gift-buying experience to its customers. Not only this, the startup also made life easier for small businesses who wanted to sell their art or personalized products online and empowered the small-scale local manufacturers and vendors by tying up with them.
MCats, which scouts, helps, and mentors early-stage startups from the Tier-2 /Tier-3 towns and cities of India, has helped Clickokart raise the funds within 30 days of its acceleration journey, that too from very prominent and strategic investors thereby resulting in the growth of its revenue. As of today's date, the founders have built the organization with revenue of 4.5 Cr annually with a profit of 50 Lakhs.
On their investment into Clickokart, Kumbhat Advisors says, "The company perfectly fits the notion that the next wave of the Internet will be about the consumers expressing themselves so therefore we believe in Clickokart's vision and are positive about the model, the product and most importantly the executing team to make Clickokart a flagship name in the times to come. Every team member of the brand is passionate about making personalized gifting work for everyone involved and has a unique take on it, one that is set to capitalize on the potential in this space and become a clear market leader. Thus looking forward and excited to work with the passionate founding team of Clickokart."
Commenting on the fund raise,
, Founder & CEO, Clickokart says, "For us, it started with an impossible idea, an insightful vision, and a surprising business opportunity. And today we are deeply passionate to proffer consumers the opportunity to be themselves through customization and are committed to producing the highest quality customized products in an ever-expanding array of categories. As the founder, I am delighted to receive this tremendous support from the investors who not only provided us with their financial support but at the same time understand our business model and support our vision. Our intention for fundraising was for more efficient penetration of our services into an increased number of cities/towns with aggressive marketing and technology building."
Further adding,
, Founder & CBO, Clickokart says, "Looking at the gifting culture in India, Clickokart leverages its best to bring products that are inextricably linked to an individual's personal style and taste. Rendering an innovative on-demand platform, we are constantly working towards incorporating new products whereby one can instantly shop or create quality products; there is something for everyone and for every occasion."
Commenting on the announcement,
, Founder & COO, Clickokart says,
"Gifting is a huge industry in India, greater than $30 billion, but a big question in the future of brand value growth is how to engage the new generation of consumers that are coming of age. Today's consumers want to feel closer to the brands whose work they enjoy. So enabling novel methods to deepen these relationships I think a product customization platform like Clickokart makes the relationship of the individual with the brand that much more intimate and I believe this helps brands deliver new dimensions of affinity and helps the best brands to stand out."
Currently, Clickokart will be utilizing the funds across the business- in technology to improve the customer experience, in marketing, to build awareness and adding products to their range, streamlining operations, etc. And no sooner they hope that these shall enable them to become the choice for sending a gift to anyone, anytime.
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