Inthree Access Services, a technology-enabled commerce platform for rural India, today said it has raised USD 4 million (about Rs 27.98 crore) in funding led by Ventureast.
The series A round also saw participation from Orios Venture Partners and the IAN Fund, a statement said.
Founded in 2013 by Ramanathan, Karthik and Narayanan, Inthree operates under the brand name 'Boonbox' and has an omni-channel business model. It focuses on Indian rural markets.
"The company will use the funds raised to strengthen its technology backbone, enhance capabilities in last mile logistics and deepen its penetration in the 10 states where it operates. Since its inception Boonbox has sold over 1.5 million durables over to more than one million households," the statement said.
* Gamepind raises $16 mn from One97 Communications, AGTech Holdings
Gamepind Entertainment, a joint venture between AGTech Holdings and One97 Communications (parent company of Paytm), today said it has received USD 16 million in investment from the two partners to expand its operations.
Besides, Gamepind has also appointed Sudhanshu Gupta as its Chief Operating Officer.
Gupta brings over 11 years of leadership experience to Gamepind, including the launch and growth of products across e-commerce, payments and new businesses, the company said in a statement said.
He had joined Paytm in 2013 as a part of the core team that developed the Paytm marketplace. Since 2016, he has been leading new initiatives and verticals incubated by the company.
"Going forward, Sudhanshu will oversee all the operations for the mobile gaming platform. He would help the company tap into the fast-growing mobile games market by creating a gaming experience that complements the ecosystem," the statement said.
* FOSSIL ropes in Fatima Sana Shaikh for new campaign
Fossil today said it has roped in Bollywood personality Fatima Sana Shaikh as its celebrity brand ambassador in India.
"Fatima's young, modern and vibrant persona resonates with the brand's ideology- an optimistic attitude, dedication to authenticity and creative spirit...She will be endorsing the watch and leather categories for the brand," it said in a statement.
Fossil had announced Varun Dhawan and Shruti Haasan as their brand ambassadors last year, it added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)