Promoters of Mumbai-based publishing firm Navneet Education Ltd has made a strategic investment in SchoolWear.in, an online marketplace to sell school uniforms and supplies.
Founded in 2014 by Ketan Zaveri and Amit Zaveri, SchoolWear.in, runs an online platform to provide school stationery, school accessories, reference books and more, for more than 40 schools in Mumbai. The startup works in a B2B2C model where it ties up with schools for uniforms and then promote online purchase through the platform.
With the latest round of funding, SchoolWear.in plans to launch a whole range of school supplies which include school uniforms & accessories, and allied products, besides facilitating school fee payments across 500 schools in 15 cities by end of 2016 including Ahmedabad, Baroda and Surat.
Presently, Schoolwear has e-stores for 50+ schools across Mumbai, Ahmedabad, Surat and Baroda and over 50,000 registered families. It is adding new schools and new product verticals every week and plans to be in multiple cities with at least 200+ school e-stores reaching out to over 1 Mn families.
Ketan Zaveri, co-founder and CEO of SchoolWear.in said, “In its first season, SchoolWear.in has sold uniforms to over 30,000 households/families in Maharashtra and Gujarat. In Gujarat alone, SchoolWear.in is currently associated with over 15 schools in Ahmedabad, Baroda and Surat.”
Navneet Promoters were advised by Leap Growth Partners LLP as their financial advisor while RDA Legal was their legal advisor. Pantomath Advisory Services Group acted as advisors to SchoolWear and its promoters.
Sunil Gala, promoter of Navneet Education said that the school uniform and supplies business is over $3 Bn business which is expected to go online in a big way. There are many startups in the domain that have emerged lately. Recently, Delhi-based SchoolKart, an online marketplace for school products raised $300K from 12 angel investors.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.
