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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

June - 2012 - issue > Venture Beat

Cbazaar nabs funding of `194 Crore in Series A Funding

SI Team
Thursday, May 31, 2012
SI Team
Cbazaar, an online retailer offering Indian ethnic wear and accessories, has raised Rs. 194 crore in Series A funding. This round of funding was led by Inventus Capital Partners and Ojas Venture Partners. As part of this financing round, Samir Kumar, managing director, Inventus Advisory Services and Pavan Krishnamurthy, Partner from Ojas will join the board of Cbazaar. Recently, Cbazaar launched its application on the Windows platform, being the first and only ecommerce app to make it to the Windows 8 store.

Established in 2005, Cbazaar was bootstrapped by founders Rajesh Nahar (CEO) and Ritesh Katariya (COO). The company was launched with very low capital of only Rs.12 lakhs and after its incorporation in 2005 it has gone through many up and down but as the time has passed it had evolved as one of the major portals which offer complete range of the products related to fashion to the customers. At present Cbazaar serves customers from across the world with shoppers from more than 54 countries transacting with Cbazaar on regular basis.

Commenting on the fund raising Rajesh said, "We launched Cbazaar.com in 2005 for the international market and have recently launched Cbazaar.in for the Indian market. Our vision is to be the largest online retailer of men's, women's, & kid's ethnic wear and accessories."

According to Pavan Krishnamurthy, Partner, Ojas Venture Partners, "Rajesh and Ritesh, founders of the company have done a great job of building an e-commerce company with global customer footprints across 54 countries completely on bootstrapped funds and great product selection for customers. With the infusion of capital, we hope to accelerate the growth trajectory of the Company manifold and help the company to create a valuable business."

This investment will enable Cbazaar to establish a unique brand position and capitalise on the rapidly emerging oppor

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