Hotline: 1800 102 2007
X
Search Business Opportunities
May, 30 2018

BCCL to Invest $52 mn in natural products marketplace Qtrove in ad-for-equity deal

The deal is expected to provide a boost to Bengaluru-based Qtrove’s marketing, customer acquisition, and vendor network through BCCL’s print, television, radio and digital media units.

Bennett, Coleman & Co. Ltd (BCCL), a media conglomerate better known as the publisher of English daily The Times of India, will invest $52 million (Rs 350 crore) over five years in Qtrove, a marketplace for natural eco-friendly handmade products such as bakery goods, honey and soaps, in an ad-for-equity deal.

The investment will be through BCCL’s ad-for-equity arm Brand Capital and strategic ventures fund Springboard Ventures.

The deal is expected to provide a boost to Bengaluru-based Qtrove’s marketing, customer acquisition, and vendor network through BCCL’s print, television, radio and digital media units.

Founded in 2016 by Vinamra Pandiya, Qtrove procures and sells natural and non-mass-produced products from local sellers. An IIT-BHU graduate, Pandiya’s entrepreneurial journey started with an online food startup, Mom’s Kitchen, in Pune. After it shut shop in 2008, Pandiya moved on to food delivery startup TastyKhana as its chief operating officer, before joining Foodpanda as country head of fulfilment operations in 2015. Next, he founded Qtrove the same year.

Qtrove, which screens sellers before allowing them to list themselves on its platform, has been promoted by K Ganesh, co-founder of GrowthStory and a serial entrepreneur instrumental in building Bigbasket, Bluestone, Fresh Menu, Homelane, Avagmah, HouseJoy, Tutorvista, and others.

“We are happy to know that awareness regarding the problems with mass-produced products is growing. With Springboard coming on board, we are very well-poised to reach a wider audience and increase our seller network. This association is going to add new wings to Qtrove and help the brand soar to greater heights,” said Ganesh.

Brand Capital mainly targets companies with consumer products or services that depend on advertising. It also uses the ad space across its various media properties as a currency to pick stakes in small, medium as well as large firms. Springboard focuses on co-creating ‘super brands’ from asset-light business concepts.

The firm’s investee companies include online classifieds entity Quikr India, online waste management startup ExtraCarbon , ed-tech startup iDreamCareer, health and wellness service provider Arth Ayurveda and radio taxi firm Meru Cabs.

Comment
image
Related opportunities
  • Quick Service Restaurants
    About Us: Kathi Express has discovered its own variety of spices..
    Locations looking for expansion Uttarakhand
    Establishment year 2003
    Franchising Launch Date 2003
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Dehradun Uttarakhand
  • Mens Wear
    About Us : The company is in the clothing business since..
    Locations looking for expansion Maharashtra
    Establishment year 2007
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Fashion accessories - women
    About Us: COVO is a premium accessories brand for Men and..
    Locations looking for expansion Karnataka
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Aviation & Hospitality Training Institute
    About Us:  Young chef India schools is a concept floated by..
    Locations looking for expansion West Bengal
    Establishment year 1994
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 1100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Kolkata West Bengal
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities