SUMMARY
Plans to expand to 100 craft clusters across India
Bangalore-based GoCoop Solutions and Services, an ecommerce enabler for rural producers and co-operatives, has raised an undisclosed amount in Series A funding. The investment was secured from Infosys co-founder Kris Gopalakrishnan and Saha Fund. Its existing investors Unitus Seed Fund and Indian Angel Network also participated in the round.
With the newly raised capital, the startup aims to enhance its technology platform and expand its buyer and seller base.
Founded in 2011 by Siva Devireddy, GoCoop is a technology led platform that provides an online global marketplace for co-operatives and community-based weavers and artisans.
Siva Devireddy said, “Currently, India has over 9 Mn artisans, of which many are organized as cooperatives and community-based organizations. Grappling with limited local reach, these artisans are often, heavily exploited by middlemen and traders resulting in low prices and unfair payment terms. Thus GoCoop was formed to bridge the gap between buyers and co-operatives.”
The company presently claims to have over 250 cooperatives on its platform. It has presence in over 40 craft clusters and plans to expand to over 100 craft clusters across the country in the next 24 months.
As claimed by Siva, sinceAugust 2014, the company has already processed over 5,000 orders; 40% of which are international and includes orders from fashion boutiques, retailers, brands and apparel manufacturers. In addition to building a scalable platform, GoCoop continually invests in training its artisans and building awareness in them.
The startup had earlier raised seed funding from Unitus Seed Fund and Indian Angel Network led by Naga Prakasam.
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