Inkmonk.com raises Rs 4.8 crore seed funding
Inkmonk.com, Chennai-based print marketplace start up announced they have raised nearly Rs 4.8 crores ($750 thousand) in seed funding from Japanese and Dubai based investors.
30 Aug 2017 | 10680 Views | By Sriraam Selvam
The funding was pooled from raksul.com which is the largest printing marketplace in Japan, Dena which is the largest internet company in Japan and VAMM Ventures who led the round.
“The $29 billion print and customisation market of India is ripe for disruption with most businesses preferring convenience and ease of purchase in online platforms. I believe around 5% of this market is already discovering print service providers over the internet with business value worth $1.4 billion annually. This is a big motivation for us to keep pushing further in taking over the industry with sheer trust and convenience,” said Isaac John Weasley, co-founder and CEO of Inkmonk.
The portal which competes directly with Printland, Printvenue and Vistaprint is said to have 30 product categories spanning across 5000+ product customisations and around 200 print shops onboard.
“We are hoping to build online reputation for each shop to compete against each other on a fair basis with genuine ratings and reviews by customers. In short, we believe to have built a Zomato for printing,” said Isaac.
With the marketplace model launched in 2015, Inkmonk had previously raised $250K angel funding from notable investors like Girish Mathrubootham, founder and CEO of Freshworks, Phanindra Sama, former CEO of Redbus and other such angel investors. Totally Inkmonk has raised close to $1Million and is looking forward to raise a Series A round in a couple of months along with existing investors.