Bangalore-based AbeRuk, a six-month old e-commerce startup, has raised an undisclosed amount in Angel funding from a Hong Kong-based company Swastika Company Limited. AbeRuk run by Quarto India Internet Pvt. Ltd. is an online marketplace for used books. At present, the startup is operational in Bangalore and has more than 100 sellers listed on their platform.
Based out of Bangalore, AbeRuk works as a marketplace in the fragmented Used Books market. They also onboard publishers & distributors for new books, so that customer gets wide variety of books and for the same title customer get both used & new books version.
“I am an avid book reader, and finding books at dirt cheap price where I buy book every week was always a problem for me because of lack of any such organized online platform,” said Sidharth Shankar, Founder, AbeRuk.
"Funds raised will be utilized to expand the team and add customers & sellers. The team believes technology is the heart of the business and thus, a substantial amount of the current fund-raise will be used to improve the technology stack, including implementation at operations level to increase efficiency and quickly respond to the market," added Sidharth.
He declined to disclose the amount the startup raised.
Used Books marketplace AbeRuk was founded in December 2015 by Sidharth Shankar, an ex-Toyota Lean consultant along with his school friend Sidharth Kumar, an ex- Schneider Electric and Business Management graduate from Ecole de Management, France who handles growth & finance. The company has inventory of more than 1 Lakh titles from more than 100 sellers. With 200 publishers on board, AbeRuk is likeably to become India’s only Books platform.
Other recent investments of Swastika Company include Gurgaon-based on-demand concierge startup Qlivery, restaurant deals startup Pocketin and Gurgaon-based beauty and wellness startup Stylofie.
Based out of Bangalore, AbeRuk works as a marketplace in the fragmented Used Books market. They also onboard publishers & distributors for new books, so that customer gets wide variety of books and for the same title customer get both used & new books version.
“I am an avid book reader, and finding books at dirt cheap price where I buy book every week was always a problem for me because of lack of any such organized online platform,” said Sidharth Shankar, Founder, AbeRuk.
"Funds raised will be utilized to expand the team and add customers & sellers. The team believes technology is the heart of the business and thus, a substantial amount of the current fund-raise will be used to improve the technology stack, including implementation at operations level to increase efficiency and quickly respond to the market," added Sidharth.
He declined to disclose the amount the startup raised.
Used Books marketplace AbeRuk was founded in December 2015 by Sidharth Shankar, an ex-Toyota Lean consultant along with his school friend Sidharth Kumar, an ex- Schneider Electric and Business Management graduate from Ecole de Management, France who handles growth & finance. The company has inventory of more than 1 Lakh titles from more than 100 sellers. With 200 publishers on board, AbeRuk is likeably to become India’s only Books platform.
Other recent investments of Swastika Company include Gurgaon-based on-demand concierge startup Qlivery, restaurant deals startup Pocketin and Gurgaon-based beauty and wellness startup Stylofie.
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