With an aim to push its offline foray, online retailer Craftsvilla plans to invest Rs 100 crore to open about 1,000 outlets next year. The company currently has 62 outlets across India in cities such as Pune, Mumbai, Hyderabad, Kolkata, Kochi, Kolhapur, Coimbatore, Delhi, Chandigarh, and Varanasi, and it will cross 75 outlets by the end of this year.
According to a RoC filing, Craftsvilla, has raised Rs 6 crore in funding from Singapore-based parent Supera Investments. With this latest infusion, the Mumbai-based company has received a total amount of Rs 30 crore from Supera this year, including Rs 17 crore in April, Rs 3 crore in March, and Rs 4 crore in February. In 2018, Supera had also infused Rs 40 crore in Craftsvilla through four tranches of Rs 10 crore each in December, August, June, and February.
Craftsvilla received Rs 220 crore in Series C funding led by Sequoia India and Lightspeed Venture Partners in 2015. In the same year, Sequoia led a Series B round of Rs 110 crore in the company. The fashion e-tailer received its Series A round of about Rs 9.6 crore in 2012.