Salebhai.com, an e-commerce platform for regional goods from across India, has today announced that it has received investment from Brand Capital of Times Group. The media conglomerate has acquired a minority stake in the company by investing $1.5 million.
The online portal, which operates on a back-to- roots philosophy, currently meets requirements of 17 diaspora communities by sourcing authentic and unique products from their native places.
It offers sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, pickles, handicrafts, paintings, puja items, and herbal products from over 100 cities and 250 sellers.
The company believes that Brand Capital has backed the portal considering the huge opportunity in solving a longstanding problem through an integrated platform and its range of curated products.
Commenting on the funding, Vishwa Vijay Singh, Co-founder, Salebhai.com said,
We are extremely delighted to have secured such significant funding from Brand Capital. I’m confident that our partnership with this esteemed establishment will help us expand our footprint and acquire more customers in India and abroad.
The startup was founded by Vishwa Vijay Singh, Purba Kalita, and Pramod Rao, who is an IT expert. Vishwa looks after the company’s marketing and overall functioning, while Purba takes care of content and communication.
Salebhai.com is an Indian e-commerce marketplace that enables people living away from home order a range of specialties directly from their hometowns. It is also a one-stop solution for those who want to discover regional products from across India. Users can pick from a wide variety of consumable items like sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, and pickles.
It currently sources products from over 100 cities and 250 select vendors. The company also offers other products such as handicrafts, paintings, puja items, handloom goods, and herbal & wellness items.
So far, the company claims to have 4,200 active users, out of which 22% are repeat buyers. Its GMV is valued at Rs. 70,00,000. It is hoping to further increase sales through web personalization & marketing automation in the next couple of years.
This is the third startup in the month of August which received funding from Brand Capital. Apart from Salebhai.com, Faircent and ExtraCarbon also received money from Brand Capital this month.