Chumbak Secures Over $2 mn Funding from Matrix Partners & Seedfund
Chumbak, a creative gifting venture, based out of Bangalore has raised over $ 2 mn funding from Matrix Partners and existing investor Seedfund.
The deal was finalized over 6 months ago. In February 2013, Seedfund had invested close to $2 mn in Chumbak.
The company, founded in 2010, makes designer shirts, keychains, coffee mugs, bookmarks, magnets and other creative accessories. Chumbak retails in 16 Indian cities and in Japan.
The 35 employee company plans to use the funding to create new product categories and go deeper in existing ones, consolidate store presence, and to launch their own flagship stores.
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