New Delhi-based online printing solutions provider Printland has raised an undisclosed amount of funding from SIDBI Venture Capital, a wholly-owned subsidiary of Small Industries Development Bank of India (SIDBI). The funding will be used to invest in technology, launching new products and client acquisition. Printland was advised by Langham Capital on this funding.
“Proceeds from the investment will be used towards the growth of the business for better customer experience through investment in technology, launch of new products and acquisition of new clients,” said Sandeep Behl, founder and CEO of Printland.
Founded in 2011 by BITS Pilani alumnus Sandeep Behl, Prinland claims to be India’s largest Online Printing Megastore for all customized corporate and individual printing and gifting requirements. It provides corporate printing, individual printing, corporate merchandise and corporate gifts focused on the SME sector. It also provides personalised gifts like mugs, T-shirts, photo rocks, key chains, greeting cards, phone covers, ceramic plates, pen drives, notebooks, mouse pads, glass clocks, sippers, laptop sleeves, picture puzzles and stickers.
Printland’s solutions are targeted at eliminating pains of SME and SOHO businesses.
In September 2013, Printland had raised Rs 5 crore in debt and equity from SIDBI and existing investors Evista Venture Capital and Sanjeev Kakar. Prior to this, the company had raised $164,000 from Delhi-based angel Evista Venture Capital in March 2013.
Printland is the fifth known investment by SIDBI this year. The other investments include Annapurna Microfinance Pvt Ltd, Power Research and Development Consultants Pvt Ltd, Synergistic Financial Networks Pvt Ltd and Natureland Organic Foods Pvt Ltd.