BCCL’s Brand Capital|Springboard Ventures Invests Rs 350 Cr in Curated Marketplace Qtrove.Com

GrowthStory backed Qtrove, a curated marketplace that exhibits & sells non-factory made products, has raised a 350 crore funding from Springboard Ventures – Brand Capital, an investment arm of media house Times Group’s holding company Bennett, Coleman & Co Ltd (BCCL). This funding from Springboard aims to revolutionise the way natural and chemical-free products from small enterprises  are currently sold in India. 

With a mission to be the ‘Etsy’ of India, Bengaluru-based Qtrove is looking to establish itself as a default choice for customers looking for natural and sustainable products for their day to day usage.

Founded in late 2015 by Vinamra Pandiya with an aim to release the shoppers from the ‘tyranny of choice’, Qtrove selects only the best products from local sellers. From fresh bakery goods to hand made soaps, Qtrove brings only the choicest products for its customers. These products are eco-friendly in nature and are not easily available across the online spectrum. It is a two-sided marketplace for natural, handmade products which allows curated sellers to list on its web or internet based platform and for customers to order on its platform and mobile application.

Commenting on the funding, Vinamra said, “We are confident that our partnership with Springboard will redefine and transform the way natural, handmade, non mass made products are consumed in India. We call ourselves as a democratic, trusted, two sided marketplace focussing on true value creation and not on mad discounts and unsustainable cashbacks.. We want to bring discovery, joy and serendipity back to shopping where products have their own unique identity and where consumers buy them for what they are and not because we are offering some discounts.”

Qtrove has been promoted by K. Ganesh, Founder – Growthstory, and an iconic serial entrepreneur instrumental in building BigBasket, Bluestone, Fresh Menu, Homelane, Avagmah, HouseJoy, Tutorvista etc. “We are happy to know that awareness regarding the problems with mass produced products is growing,” said K. Ganesh. He further added, “With Springboard coming on board, we are very well poised to reach a wider audience and increase our seller network. This association is going to add new wings to Qtrove and help the brand soar greater heights.”

Qtrove will be using the funds to further intensify their marketing, customer acquisition efforts and vendor network through BCCL’s stable of print, television, radio and digital media. 

Springboard’s ventures are market disruptors and category creators in themselves. An early stage growth investor, Springboard co-creates new growth ventures and businesses of the future along with highly driven entrepreneurs & corporate houses. These businesses cause a non-linear shift in the industry with cutting edge innovation products/services, thereby truly redefining the market.

Sam Subramanian, CEO – Brand Capital said, “Springboard is tremendously excited to partner with K.Ganesh and Vinamra on Qtrove. Qtrove will provide a unique marketplace for hundreds of thousands of artists and small businesses to gain a cost less shop front and create millions of happy customers. Given India’s vast number of artisans, craftspeople and artists, we expect Qtrove to grow into the Etsy of India.”

Qtrove which offers over 6,000 products in more than 40 categories through over 600 sellers online with more than 103K deliveries, counts eCommerce players like Flipkart, Snapdeal, Amazon, Shopclues, Big Basket, Grofers etc. as its competition.