Jaypore, New Delhi based online retail store has raised INR 30 Crores ($4.38 Million) in Series A Round of funding from Aavishkaar, a social venture capital firm. The funding amount, which is to come in two tranches will be used to scale up the technical infrastructure and hire more manpower. The startup will also use a part of the funding amount to market and build the brand.
Jaypore was founded by Puneet Chawla and Shilpa Sharma in 2012. It offers unique products such as home decor, apparels, jewelry, accessories, gifts and vintage items.
Before this round, the eCommerce startup was also backed by Haresh Chawla, partner at India Value Fund.
Jaypore receives 200-400 orders per day and the estimated average value of per transaction is Rs 4000. 65% of the total traffic is from the mobile website (there is no mobile app yet), it plans to launch Android and iOS apps soon.
The USP of Jaypore is the unique designs from artisans and craftsmen from across the country. In the current fiscal year, it expects to record gross sales of INR 30Cr and by 2017, expects to touch the 100 Cr mark.