Online printing solutions startup Printland raises under $1M from SIDBI Ventures & existing investors
Printland Digital India Pvt Ltd, that runs an online printing solutions startup, Printland.in has raised Rs 5 crore ($810,094) in funding led by SIDBI Ventures. Existing investors Evista Venture Capital and Sanjeev Kakar, co-founder of startup incubator Aegis Centre for Entrepreneurship, also participated in the round. Behl, talking to The Economic Times, said the capital raised will be used for acquiring specialised equipment and to expand the firm's solutions to international markets.
Founded in January 2012 by BITS Pilani alumnus Sandeep Behl, Printland offers corporate printing as well as personalised gifts with readymade design solutions. It integrates automated printing, design studio and cloud computing to provide on-demand printing and distribution solutions. Its offerings include business printing, corporate merchandise, corporate gifts, personalised gifts, etc. The website allows users to customise his/her requirements, order and pay online. The consignment is delivered within 48 hours.
In March this year, the startup raised Rs 90 lakh from Evista Venture Capital. Talking to Techcircle.in earlier, the company had claimed to have 15,000 clients. Behl had also said the company is clocking 1,500 orders a month with an average transaction size of around Rs 4,500. In addition to the new round, the company is targeting to raise Rs 10 crore by the end of this year and get on board a strategic partner with international experience.
Similar startups in the sector include Printbindaas that recently raised angel funding from Manoj Kumar Swain, CEO of Morgan Stanley India, Primary Dealer Pvt Ltd and Rajesh Garg, AVP (business development & technology) at Ireo Management Pvt Ltd. Other key players are Printo, which is backed by Sequoia Capital; Delhi-based Printbazaar which also has printing solutions for home parties, gifting and personal use; and NASDAQ-listed Vistaprint which entered the Indian market by acquiring online marketing solutions provider Printbell, and Rocket Internet-backed Printvenue.
(Edited by Joby Puthuparampil Johnson)