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December 17, 2013

Deal Alert: Unitus Seed Fund, IAN back handicrafts e-marketplace GoCoop

Bangalore based online marketplace for co-operatives and community based enterprises GoCoop has raised funding from Indian Angel Network and impact investor Unitus Seed Fund. The IAN investment was led by member Nagaraja Prakasam. The company will use the funds raised to further develop its online platform and build out its marketing operations. Unitus Seed Fund was advised on the transaction by Unitus Capital and Impact Law Ventures. 

Founded in 2011 by former Accenture executive Siva Devireddy, GoCoop is a marketplace for cooperatives and community-based enterprises to list and sell their produce online. The marketplace currently offers handicraft and handloom products and is primarily active in Karnataka and Andhra Pradesh. It also has a small presence in Odisha which it plans to grow in the next few months. 

From the Venture Intelligence PE Deal database: Other VC-backed startups in handicrafts e-tailing include Shopo (acquired by Snapdeal), Industree and Craftsvilla.

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