Praveen Sinha, the co-founder and managing director of fashion ecommerce platform Jabong, has invested an undisclosed amount into his wife’s startup, Anasha Art. The funds received will be employed towards sourcing inventory and also for the marketing and promotion of the website.
Founded in November 2014 by XLRI Jamshedpur grad Shayal and her mother Anahita Taunk, Anasha Art showcases works from over 30 artists including Anjolie Ela Menon, Yusuf Arakkal, Seema Kohli, Ranadip Mukherjee, Somenath Maity, Bratin Khan among others.
Although the number of art pieces being sold is not high, but, on an average, the pieces are sold out at close to INR 1 Lakh.
“Our aim is to target niche audience,” said Shayal.
Besides funding this startup, Sinha, is also in talks with two other startups. One of these startups, is working towards creating technologies that could be useful in creating river cleaning robots, and intelligent surveillance systems for preventing thefts in warehouses and other industrial areas. Whereas the other startup belongs to the healthcare sector and has developed an app that allows patients to access their lab reports online, besides being able to book and manage appointments using a smartphone.
According to Sinha, “My investments range from INR 5 lakh to INR 1 Cr. as seed capital. Besides this, I also try to involve people within my network to raise further funding or where capital required would be more.”