Boonbox raises funds from Keiretsu, IAN

Chennai: Inthree Access (Boonbox) has raised an undisclosed pre series A round from a group of investors including Keiretsu Forum and existing investors Indian Angel Network. The startup works in the area of assisted e-commerce in the rural areas and now has presence in 8 states including Tamil Nadu, Karnataka, Andhra Pradesh, West Bengal, Orissa, Assam, Punjab and Bihar. Founded in 2015 by Ramanathan R and Karthik Natarajan, the startup delivers white goods ranging from refrigerators and TVs to mobile phones in rural India. “We start with places that have a population of below 50,000 and we now service 3,000 unique pincodes. We will go deeper in these geographies in the upcoming months,” said Ramanathan. The startup became cash flow positive and aims to end this fiscal with Rs 150 crore in revenues. “The last month has been very encouraging. It takes a different formula to work with the rural areas because one has to tackle cultural issues as well. They want their independence while placing an order while at the same time, they want someone to advise them. We train our affiliates on the product catelogue so they can guide the buyer,” he said.