Qtrove bags funding from BCCL’s Springboard Ventures

Chennai: GrowthStory backed Qtrove, a curated marketplace that sells non-factory made products, has bagged Rs 350 crore funding from Springboard Ventures — Brand Capital, an investment arm of Bennett, Coleman & Co Ltd (BCCL).

Founded by Vinamra Pandiya, the marketplace has a wide range of products — from fresh bakery goods to handmade soaps. These products are eco-friendly in nature and are not easily available across the online spectrum. It is a two-sided marketplace for natural, handmade products which allows curated sellers to list on its web or internet-based platform and for customers to order on its platform and mobile application. The startup has over 600 sellers with over 6,000 products and over a lakh customers across India.

“We are confident that our partnership with Springboard will redefine and transform the way natural, handmade, non-mass products are consumed in India,” Pandiya said. “We want to bring discovery, joy and serendipity back to shopping where products have their own unique identity and where consumers buy them for what they are and not because we are offering some discounts,” he said.

Qtrove will be using the funds to further intensify their marketing, customer acquisition efforts and vendor network through BCCL’s stable of print, television, radio and digital media. Qtrove has been promoted by K. Ganesh, founder — GrowthStory which has other startups like BigBasket, Bluestone, Fresh Menu among others in its portfolio.

“We are happy to know that awareness regarding the problems with mass produced products is growing,” Ganesh said. “With Springboard, we are very well poised to reach a wider audience and increase our seller network. This association is going to add new wings to Qtrove and help the brand soar greater heights,” he said. Sam Subramanian, CEO, Brand Capital said, “Springboard is tremendously excited to partner with K Ganesh and Vinamra on Qtrove. Qtrove will provide a unique marketplace for hundreds of thousands of artists and small businesses to gain a costless shop front and create millions of happy customers. Given India’s vast number of artisans, craftspeople and artists, we expect Qtrove to grow into the Etsy of India.”