Canvera, India’s leading online photography company, announces the successful conclusion of fresh round of Series B strategic funding from existing investors led by Info Edge.
Canvera, founded in 2007, has become India’s leading online photography company fulfilling people’s photography needs across 1100+ cities in India. Canvera has over 17,500 photographers registered on its marketplace platform – Canvera Classifieds.
Canvera is the only end-end online photography company that delivers India’s most comprehensive photographers directory through Canvera Classifieds. Canvera taps into cutting edge design and production to offer immaculately crafted and internationally acclaimed photobooks. Through this strategic investment and partnership, Canvera plans to ramp up the services across India while accelerating the company’s product innovation and development.
Info Edge, the lead investor of Canvera’s Series B round, is well-known for its portfolio of successful online consumer services brands such as naukri.com, jeevansathi.com, 99acres.com among others. Chintan Thakkar, CFO of Info Edge said, “Info Edge sees positive traction in the initiatives undertaken by Canvera. The photography market is underserved and Canvera is well set-up to realize these opportunities. To support this Info Edge has lead and further invested in the current internal round of funding.”
Ranjit Yadav, CEO of Canvera said, “The photography and image management industry is at an inflection point and poised for reinvention and growth. Canvera as a nimble vertical player in the photography eco-system, spanning both digital and physical offerings is best set-up to take advantage of the coming opportunities. Canvera will continue to bring innovations to the photography industry which is a win-win situation for photographers and consumers. With this investment, we are confident we will further strengthen our promise to consumers and help them record and preserve their happiest memories”
Neill Brownstein of Footprint Ventures said, “Footprint Ventures has been a long term investor in Canvera since its inception. Canvera has built a strong brand and set of offerings for the photography market and has validated its business models. We are happy to participate in this this round of funding.”
Mohanjit Jolly, Investor and Board Member Canvera said, “The photography industry and opportunity in India has evolved significantly over the last few years. It is now ready to be served online and digitally. Canvera is now even more relevant for the marketplace as it straddles both the consumer and photographer space. It is best placed to take advantage of the new market opportunities.”