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PosterGully, a curated marketplace for artists and designers, has raised an angel round from a group of angel investors through LetsVenture.
The funding would be utilised in hiring, marketing, growing the authentic artist community, expanding the product mix, and building a strong mobile presence.
The current round was led by Natarajan Iyer, former consultant at Egon Zehnder. Others who participated in this round were Rajesh Sawhney, founder GSF, Nish Bhutani of Saffron Art, Vivek Mulchandani, Virtu Propdeal, Vikram Saxena, Mineral Enterprises Ltd, Bhavika Enclave, and Anuj Chowdhary.
Founded by Bharat Sethi in 2013, PosterGully enables artists, designers, and anyone who holds original visual content to seamlessly contribute and merchandise unique designs in a variety of products, such as phone cases, art prints, home décor, and clothing to consumers globally.
They produce these products on-demand ‘just in time’ through vendors across India through an API-based automated process.
PosterGully gained momentum in early 2014 and is currently helping 850+ contributors cash in on their artworks.
“With over 2,50,000 unique user sessions every month we have a conversion ratio of ~3% and a customer acquisition cost of less than $1. These sorts of metrics were only possible for us as a bootstrapped company because we had the power of direct branding, exclusivity of product line, and scalability of a marketplace model,” Sethi said.
PosterGully has Society6 and RedBubble as their international direct competitors, while in the domestic market it is players such as Chumbak and TouchTalent.
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