TermSheet.io announces the closing of a $120K seed round for Garage Labs Technologies Private Limited, the company behind Cupick.com. Cupick, a social network for artists that allows them to merchandize their artwork, closed a seed round of approximately INR 75 lakhs with the TermSheet platform. Read our Review of Cupick here.
Several angel investors from the US and India participated in this round. These include JKN Partners (an angel syndicate), JK Patel, Sushil Agarwal from India and Kalpesh Shethia, Rajeev Mudumba, Dinesh Tadepalli and Sudheshna Vuppala from the US.
Cupick is a platform for the visual artist community – illustrators, graphic designers, digital artists, painters, photographers etc – to showcase, share and sell their work on various mediums such as t-shirts, hoodies, posters, art prints, canvases and cards.
Artists can upload their artwork in high resolution, choose products to sell on and set their own prices. Cupick handles the printing, shipping, payments and customer service enabling artists to monetize their assets hassle-free.
Since its launch in September last year, Cupick has seen over 2500 artists register on its site with over 9000 artworks uploaded. Cupick recently ran the official fan poster contest for the Ranbir Kapoor starrer Bombay Velvet.
“There are hundreds of thousands of artists creating beautiful artwork but with no way to monetize or reach out to a larger audience. Then there are large copyright holders sitting on huge repositories of idle creative assets. Cupick helps them monetize this asset class through merchandising.” says Shaishav Todi, Founder and CEO of Cupick. “We want to make art consumable and in process, add value to the underlying asset.”
Cupick closed their round with help from the team at TermSheet.io. TermSheet.io is driven by its accelerated closing methodology and a founder-friendly vision that already differentiates it from other funding platforms. This round marks TermSheet’s fourth deal since the launch of their closed beta in December 2014.
“We loved what Termsheet had to offer. Quick, frictionless fundraising. We went from closing negotiations to announcing the round in 15 days. Vivek provided a personal touch throughout the complete fundraise process and made it simple and efficient for us”, said Shaishav.
Cupick plans to use the funds to rapidly expand the product lines it offers, invest in product development so as to retain a technological advantage and to hire key talents across different verticals. The funding will accelerate the company’s impressive growth in asset and user acquisition.
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