The ethnic product online retailer, Craftsvilla.com has put aside $9.8 million from its latest round of funding to acquire some startups that will improve its business and customer’s experience. The Indian eCommerce website will acquire data and mobile technology startups, which will improve its customers experience as well as business. Recently, the company has raised $34 million in Series C round of funding.
The Craftsvilla.com is already in talks with startups based in Malaysia and Indonesia for acquisitions. The Mumbai based online retailer has set range of $1 to 2 million for the acquisitions. The company will announce at least two deals in this quarter.
The co-founder of Craftsvilla.com, Manoj Gupta said about the acquisition news, “We are looking at technologies in the data science spaces, and mobile technology, we are in talks with startups in (Malaysia and Indonesia) to help us with expansion and the ticket sizes for acquisitions would be between $1 to 2 million.”
The company is also planning to expand its range by entering into some other products like Herbal, Yoga and ayurvedic products. The online retailer is also planning to acquire startups that offer this kind of products. As of now, Craftsvilla.com deals with products like apparel, bags, gifts items and jewelleries on its platforms.