Indian eCommerce Portal, ICustommadeit, which sells customised merchandise has raised $4 Million in pre series A round from Brand Capital (Times Group), Siddhivinayak Skyscrapers and Dinesh R. Challa.
The startup plans to spend the raised amount in advertising about the brand and offering. Also it is planning to expand to 18 major Indian cities along with eying a global expansion.
Speaking to media, Raj Iyer, Director iCustommadeit said that the support from Times Group has come as an added advantage to the startup. The team is now looking to use Times Group’s expensive outreach to create an high impact buzz around the brand. Also, there is a focus on raising the next round within next few months.
iCustommadeit was started in 2013. It is an online platform which personalised merchandises for the customers. It basically takes the requirements from the customer, sends that to the seller and the artists and then the order is fulfilled as a whole. It claims to offer custom made items in jewelry, clothing, accessories and home decor. Currently, the online store has a database of over 25,000 products in 33 categories from 900 sellers.
The startup had raised $900K before the latest fundraise. Future plans include launching an exclusive brand of handcrafted watches with Aion brand name. It also has a few licenced agreements with top merchandise brands in the country.