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Design start-up Chumbak secures funding from matrix partners

Tags: chumbak, entrepreneurs, startup, indian design startup, matriz partners, funding

May 21, 2014 | COMMENTS ( 0 )

Design start-up Chumbak secures funding from matrix partners

Chumbak Designs, a start-up that sells products that epitomizes colorful Indian designs has raised funding led by Matrix Partners with their existing investor Seedfund participating in this round as well. The terms & financials of the funding have not been disclosed.

 

Chumbak had previously raised angel funding from SeedFund in August 2013.

 

Chumbak is an offline-online product sales company with a difference. The designs of the product they sell are quirky and colourful. The funds raised in this round of funding will be utilized to launch new categories and expand their offline channels of sales.

 

Chumbak plans to develop 60-65 kiosks across India and have retail stores across malls and high streets by March 2015. Chumbak’s current portfolio of products include Apparels, Footwears, bags & wallets, jewellery, tech accessories, travel accessories and gifting.

 

The company was started by husband-wife duo of Vivek Prabhakar and Shubhra Chaddha in 2010 and currently have presence in 20 stores in Bangalore, Mumbai, Hyderabad, Pune and Chennai.

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