SustainKart Marketplace India Pvt Ltd, which operates e-commerce marketplace SustainKart, said it has raised $500,000 (around Rs 3 crore) in a pre-seed funding led by India Accelerator.
The round also saw participation from several high net-worth individuals and industry experts as part of India Accelerator’s network.
SustainKart plans to use the fresh funds for marketing as well as adding more customers and talents to its platform.
Launched in 2021 by Shilpa Reddy and Kanthi Dutt, the startup offers eco-friendly products across lifestyle categories, from fashion to decor, food and nutrition, among others.
“We plan to launch a series of private labels with A-lister celebrity co-founders to have a stronger foothold in the sustainable D2C space. Multiple strategic seed-stage D2C brand acquisitions are planned for this year”, said Co-founder Kanthi Dutt.
With over 950 brands and 68,000 stock-keeping units, SustainKart in a statement claimed it to be the largest e-commerce marketplace in Asia.
Last year, SustainKart launched the beauty brand Bhoomitra, backed by actress Keerthy Suresh.