Chennai-based, Inkmonk, an marketplace for online printing and a provider of full stack merchandising solutions that are built for businesses has raised about $250K (INR 1.5 Cr.) in an angel round funding led by a group of angel investors via LetsVenture.
The funding round was led by Girish Mathrubootham, founder & CEO of Freshdesk. Others who participated in this round include Phanindra Sama, co-founder RedBus, Vikram Chachra, and a few other angel investors.
The funds will be utilized for expansion focusing mainly on hiring, product expansion and sales and marketing.
Inkmonk was founded by Isaac John Wesley and Surya Shankar in 2014. It focuses on creating a marketplace for online printing. Inkmonk aggregates and curates every printer in their platform ensuring quality control checks before the end-customer receives the product. It also relays dynamic & transparent pricing of these printers and provides a platform where customers can choose their merchandise and design it using Inkmonk’s online designer.
Their main focus is to create ’the ultimate marketplace for printing while maintaining the best quality of the final product’.
Printing is a huge market and at the same time highly fragmented and unorganised. “The $22 Bn print and merchandise industry is still untapped. India has roughly 250k print vendors (for a fact, the number is more than that in China) and from our experience only a very few print vendors in each city is quality conscious and keeps up proper customer deadlines,” Isaac John Wesley, cofounder of Inkmonk.
Inkmonk is bringing these print vendors out to its customers in a transparent marketplace with real time rates. The startup is building products to help businesses in direct mail solutions and inventory management and API’s for merchandise.
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