Text Mercato secured Rs 4.85 crore

Text Mercato, a start-up for digital cataloging that supports e-commerce sites, has raised Rs 4.85 crore from a clutch of investors.

The funding was led by 1Crowd, Hong Kong-based startup accelerator Betatron, and angel investors Andrew Dell, former head of HSBC Africa, and Raaj Shah, CFO of Sequent Tech, are other participants, the startup said in a note

Text Mercato, based in Bengaluru, was founded in 2015 by Kiran Ramakrishna and Subhajit Mukherjee and serves the content needs of digital companies.

1Crowd is an early-stage venture investment fund and a forum set up in 2015 to provide an institutionalized approach to start-up investment and has invested more than Rs 100 crore in 31 start-ups across industries, ranging from deep tech and enterprise tech to B2C start-ups.

Currently, Text Mercato serves over 100 customers, including many leading online retail and e-commerce players such as Myntra and The Luxury Closet in Dubai, among other customers spanning apparel, electronics, FMCG, hospitality, etc.

75% of its sales is accounted for by domestic customers and the remainder comes from foreign customers.