Printo Receives $6.25 million In Funding From Sequoia Capital
By Nikhil Pahwa - Thu 25 Oct 2007 06:53 AM PST
This just in: Printo Document Services has received a second round of funding of Rs. 250 million (around $6.25 million) from Sequoia Capital to help fund its national expansion. Printo has charted out a national expansion plan that they expect will cost them around Rs. 1000 million (around $25 million). Printo had earlier received funding from Seed Fund and “has individuals like Pravin Gandhi (co-founder, Hinditron and SeedFund), Sridar Iyengar (Director, ICICI, Infosys and Rediff.com) and Raju Venkatraman (President & COO, ICICI OneSource) as advisors and investors.”
Besides regular print services, Printo allows customization of marketing collateral, business cards, brochures, posters, invitations, dairies, timetables, calendars, personalised greeting cards, etc. The company has opened six stores in Bangalore, and plans to open 250 retail outlets over the next three years, across the country. They will be competing in this space against Hewlett Packard owned Snapfish which launched recently. Others include Picsquare (funding from 3 Angel Investors), iTasveer (tie-up with Microsoft), and MeraSnap.com.
So when did you last get a photo printed?
Posted in: E-commerce, Venture Capital
