Gingercrush, a licensed product customization portal, has raised an undisclosed amount of funding from TV Mohandas Pai’s family office. As a part of the deal, TV Mohandas Pai, apart form being an investor. will also take the role of a mentor for the startup.
He will be mentoring the founding team and senior management team to strengthen the organizational leadership and set the company up for strong and responsible growth.
Gingercrush is a Vadodara-based startup, founded by Rajvi Makol & Saumya Nidhi earlier this year. It is a B2C on-demand retail platform where consumers can instantly customize products to fit their personal style and purchase from a wide range of products on the portal.
We’re very excited about Mr Pai joining us as an advisor to the board. We shall stand to benefit enormously from his mentorship, experience, and guidance.
– Rajvi Makol, co-founder of Gingercrush.
The company aims to provide consumers with a variety of products with a larger degree of user controlled customization at hand. The available products includes T-Shirts, Mugs, Mobile/Tablet Covers, Mouse pads, etc.
Earlier this year, the company had raised $1 million in a funding round which was led by Gokul Jaykrishna and Brand Capital.
Commenting about his investment, Mohandas Pai said,
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 those relationships will help drive brand loyalty and recall while improving the experience for us consumers too.
I think a product customization platform like Gingercrush 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.
There is a huge potential for merchandise based on popular television shows, movies and characters. Retail sales of products with trademarks totaled an estimated $13.4 billion in royalty revenues, and $241.5 billion in retail sales in 2014, as per LIMA. With this funding and mentoring, Gingercrush has an opportunity to grab a market share which is dominated by PrintVenue, Vista Print, Voxpop, etc.