Deal of the Fortnight

GoCoop raises Series A funding

GoCoop Solutions and Services Pvt Ltd, a Bengaluru-based venture that provides an online global marketplace for cooperatives and community-based weavers and artisans, has raised an undisclosed amount in Series A funding, from Infosys co-founder Kris Gopalakrishnan, Saha Fund and existing investors. GoCoop had earlier raised seed funding from Unitus Seed Fund and Indian Angel Network. It will use money raised now to improve its marketplace technology platform and to expand its buyer and seller base. It plans to expand to 100 craft clusters. GoCoop’s marketplace helps artisans from over 250 cooperatives get a fair price. It adopts an inventory-less model and cluster-based approach and has less than 1 per cent product returns. It has presence in over 40 craft clusters and plans to expand to over 100 craft clusters across the country in the next two years. Singe August 2014, GoCoop has processed over 5,000 orders, 40 per cent of which is international and includes orders from fashion boutiques, retailers, brands and apparel manufacturers.

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