World Art Community raises $200K in fresh funding
Gurgaon-based Inventive Business Promotions Pvt. Ltd, which runs an online platform for art and craft goods World Art Community, has raised $200,000, in its second round of funding, led by its existing investors, including Viraj Tyagi, and others.
In May last year, Tyagi, along with an unnamed investor, had invested $200,000 in World Art Community.
The startup said the latest round of funding will be used to automate its online platform and expand to new cities across the country and overseas.
World Art Community was launched in December 2014 by IIT alumnus Shobhit Arora, who previously worked with GE and Standard Chartered Bank. The startup enables artists, craftspersons and designers to create their own online stores and sell their creations. It charges 10% commission on every successful transaction through its platform.
The website spans across multiple categories, including paintings, photography, drawings and illustrations, sculpture, pottery, designer apparel, accessories and home dÃ©cor.
"Since the last round, we've grown multiple times. From 200 sellers at the time we took the last round we are over 3,000 registered sellers. Likewise customer base has gone up significantly," Arora said in a statement.
The company aims to move towards "near self-sufficiency within next 12 months".
In the photography space, Delhi-based Addazz Online Services Pvt. Ltd that operates an online marketplace for photographs PicsDream raised an undisclosed amount in an angel funding round led by chairman and managing director of Quatrro Global Services Raman Roy, in April this year.
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