Chennai-based The Postbox has received an undisclosed amount of funding from The Chennai Angels and others. Ritesh Mehta (head policies, Facebook) and Aruna Ganesh Ram (theatre personality from Bengaluru) also participated in the round.
“The Postbox is a unique venture that offers online, elegantly designed products using innovative materials at affordable prices . TCA is delighted to support and mentor the two young and talented founders as they scale up their business and build the brand Postbox to greater heights ” said P. Elango who led the investment from The Chennai Angels.
Launched in September 2014 by Madhuvanthi Senthil Kumar and Nikhil Joseph, The Postbox is a collective of niche product design and digital art from upcoming artists and designers across the world.
According to a company statement, Delhi-NCR & Mumbai account for more than 50% of its revenue which was over 1.5 Cr in its first financial year of operations. It plans to use the money to expand their product line, marketing & team.
The startup offers a range of products from Ikat and leather laptop bag, travel essentials, terracotta products and home decor products. Working with over 300 artisans across the country, the startup takes about 1100 orders a month. It claims to directly support over 200 artisans based out of five cities in India, Pondicherry, Jaipur, Calcutta, Chennai and Hyderabad.
Earlier in September 2016, Canvs.in, an online community of designers and artists, received an undisclosed investment from Pratik Seal, former CMO at Housing.com.
