Boonbox to raise $4-6 mn, to launch private labels

Chennai-based rural e-commerce start-up Boonbox has firmed up plans to raise Series A funding of $4-6 million and is in talks with potential investors.

Written by Sajan C Kumar

Chennai

July 21, 2015 01:14 IST

Chennai-based rural e-commerce start-up Boonbox has firmed up plans to raise Series A funding of $4-6 million and is in talks with potential investors. The start-up, an e-commerce venture of Inthree, had secured an initial funding from Indian Angel Network, some time ago. Inthree is a company that deals with rural distribution.

Speaking to FE, R Ramanathan, the founder and CEO of the company, said it will soon introduce private labels in apparels and footwear. The start-up, operating on an hybrid model of both online and offline, will appoint company’s agents for enhancing the last-mile connectivity.

“We need $4 to 6 million to spend on people and technology. As we cater to rural customers, we are working on hybrid model, half online and half offline, because of the connectivity issues. To strengthen last-mile connectivity, we will hire agents. The company, as of now, piggybacks on NGOs, MFIs and postal department to deliver orders,” he said.

This article was first uploaded on July twenty-one, twenty fifteen, at fourteen minutes past one in the night.