The Economic Times reported the development citing the startup's founder and CEO Bhavik Vora.
Vora and Rohit Sobti, partner at Mumbai-based Collaborative Licensing, didn't respond to queries from Techcircle.in by the time of filing this report.
The investment comes barely a month after the company raised an undisclosed amount from cricketer Yuvraj Singh's YouWeCan Ventures.
Incorporated in August 2015, the startup provides merchandising solutions and offers services in retail, distribution, syndication, brand consulting and creative solutions.
Vora has about 12 years of experience in the media and licensing sector and has previously worked with Star India Pvt Ltd, Turner International India Pvt Ltd and Viacom 18 Media Pvt Ltd, according to his Linkedln profile.