Organicshop.in, a Jaipur, India-based online marketplace for certified organic products, raised its first round of funding.
Backers included 13 members of RAIN (Rajasthan Angel Investor Network), a network of angel investor from Jaipur. They acquired a 30% equity stake in Organic Shop.
The company, whose present valuation is 1 cr., intends to use the funds to improve the customer experience on the website and to expand in the USA.
Founded in 2012 by CEO Manuj Terapanthi, Organicshop.in is an online marketplace for certified and branded organic products in India including food, textiles, clothing, cosmetics, and wellness and health supplements. It also offers Ayurvedic and herbal products.
The company currently features about 26 brands and more than 1300 products on its website.