PosterGully angel funded by investors

By | June 9, 2015
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PosterGully - Feature - 1PosterGully raises funding from a group of angel investors. Merchbay Products Pvt Ltd owns and operates the brand PosterGully. The company is a curated place for artists and designers.

PosterGully enables artists, designers and any person who holds original visual content to seamlessly contribute and merchandise unique designs in host of products such as phone cases, art prints, home decor, clothing, posters, wall papers to customers internationally.

The company produce these products on demand through vendors across India through API based automated process. Once artists or contributors upload their artwork to PosterGully, customers can immediately buy the merchandise of that particular design. However the designs are checked for originality through reverse image engineering. PosterGully also verifies the profile of the artists by their moderation team.

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PosterGully is assisting around 850 contributors to cash in on their artworks. With no investment from the artists, they start earning revenue share on their designs. The company handles technology, customer support and logistics for the artists.

New Delhi based PosterGully was founded in 2012 by Anuvi Srivasatava and Bharat Sethi. Bharat Sethi is the founder and Chief Executive Officer of the company. He has graduated in Economics from University of Delhi (2011). He started his career 2009 as project trainee in HDFC Securities and in 2011 he became business analyst WOne Management systems. He had brief stint of 13 months with the company. He worked extensively in the logistics sector, billing, maintenance, operations, customer profitability, and debtor analysis for the MIS. In 2012 he founded PosterGully; the company was accelerated by GSF.

PosterGully secured angel funding from a bunch of investors led by Natarajan Iyer, Egon Zehnder, Rajesh Sawhney, Nish Bhutani, Vivek Mulchandani, Vikram Saxena, Anuj Chowdhary, Shivam Shah, BL Agarwal and Devang Dhandhania. The proceeds from the funding will be utilised for marketing and expansion of the product mix. They plan to utilise the funds for hiring and marketing. The company plans for a strong mobile presence.

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Bharat Sethi, the company’s CEO said “We’ve created a business where we’re operationally sound, cost efficient and ready to handle supply chain complexities at scale. With over 250,000 unique user sessions every month, we have a conversion ratio of three per cent and a customer acquisition cost of less than $1 (Rs 61).”  He further added “These sorts of metrics were only possible for us as a bootstrapped company because we had the power of direct branding, exclusivity of product line and scalability of a marketplace model.”

Rajesh Sawhney, founder of GSF Accelerator said “PosterGully was part of batch II of GSF Accelerator. Ever since, it has performed admirably on all accounts: business growth, acquisition of designers and customers, and business innovation. With this round of funding, they will be able to grow faster and build even bigger community of designers.”

Online poster and other products segment is witnessing lot of funding activities. Recently PosterGully competitors Bengaluru based e tailer Chumbak and New Delhi based have raised funding. Chumbak raised undisclosed amount of funds, led by Matrix Partners India who had earlier seed funded the company. On the other hand secured $700,000 seed funding from SAIF Partners. The company is competing with Society6 and RedBubble internationally.

Author: Venu V

i look for minute details, whatever i do. Avid reader, read lot of Hindu mythology, Technology and General news. Extreme foodie and like to taste new types of vegetarian food. Travel a lot, like to explore new places which are not explored by anyone. Participate in adventure sports like river rafting, grappling and hot air ballooning.