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2013-09-03

Edabba.com raises funding of 4.5 crore from CCube Angels

Edabba.com, an ecommerce platform of Omnipresent Retail India pvt limited has secured funding of 4.5 crore from Singapore-based investor CCube Angles.

Edabba.com, an ecommerce platform of Omnipresent Retail India pvt limited has secured funding of 4.5 crore from Singapore-based investor CCube Angles.

 

Edabba sells a range of products including electronics, personal accessories, fashion and jewelry mostly in smaller towns and cities by contact centers called edabba trust points providing pre and post-sale services.

 

Atim Kabra, founder of CCube Angels, says, “Between 2009 and 2012 spending in rural India reached $69 billion (4.2 lakh crore) compared with $55billion (3.3 lakh crore) spent by urban India according to a report by Accenture. The team at edabba represents a push-based differentiated model of e-commerce which is particularly well-suited for an emerging and fast-growing online market like India”

 

Manoj Kumar, co-founder and CEO of Omnipresent Retail India Pvt Ltd, says, “We are able to provide the benefits of e-commerce to a class of customers that cannot ordinarily access computer and internet and don’t have credit or debit cards”

 

Manoj formerly the head of electronic retail at Future Group, teamed  up with his colleague Saurabh B Chadha and Dinesh Paul to launch edabba in 2011. The company will use the latest round of funding to expand its edabba trust points to over 1,000 in the next six months. 

 

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