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Myntra Secures Seed Funding from Erasmic Venture Fund - Myntra, a consumer internet start-up aimed at revolutionizing the personalized gifting and merchandise space in India, announced today that it has secured seed funding from Erasmic Venture Fund and a few other angel investors
Myntra Secures Seed Funding from Erasmic Venture Fund

 

NewswireToday - /newswire/ - Bangalore, Karnataka, India, 2007/10/23 - Myntra, a consumer internet start-up aimed at revolutionizing the personalized gifting and merchandise space in India, announced today that it has secured seed funding from Erasmic Venture Fund and a few other angel investors.

   
 
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As part of the investment, Erasmic has nominated one member to the board of directors. Sasha Mirchandani of Mumbai Angels has also joined the board. The funds will be used for procuring advanced technology for on-demand printing, scaling up the operations, and undertaking new marketing initiatives. “We believe that these funds will help us significantly improve the customer experience and offer best quality personalized merchandise in India” says Myntra CEO Mukesh Bansal.

Myntra launched its beta website in May this year and has undertaken various initiatives to significantly enhance its operational capabilities and online user experience. Myntra now has a fast-growing designer community which has enabled it to publish thousands of unique designs on its website. The company was self funded until now and has built the basic foundation before procuring external funding in this round.

About Myntra

Myntra Designs (myntra.com) is an online marketplace for on-demand consumer products where people can easily find and create unique, personalized and creative merchandise like T-Shirts, Mugs, Calendars, Keychains, Diaries and other items. They have various customization tools, easily navigable user interface and a vibrant community of designers which enables them to provide a one-of-its-kind offering in India. Myntra’s core team comprises of 5 IIT/ IIM graduates with extensive experience in building software products in multiple domains. A large number of them have worked for start-ups in bay area and India.

 
 
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Written by / Agency / Source: Myntra Designs (P) Ltd

 
 

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Myntra Secures Seed Funding from Erasmic Venture Fund

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Publisher Contact: Kaushal Mishra - Myntra.com 
+91 80 64548960 kaushal.mishra[.]myntra.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Myntra Designs (P) Ltd securities in any jurisdiction including any other companies listed or named in this release.

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