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LetsVenture invests in e-commerce startup Gizmobaba.com

LetsVenture invests in e-commerce startup Gizmobaba.com
Photo Credit: Photo Credit: 123RF.com
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Mumbai-based Gizmobaba.com, a cross-border marketplace for curated gadgets and accessories, raised $250,000 (Rs 1.72 crore at the current rate) in a pre-Series A round funding led by LetsVenture, a top company official told TechCircle.

“With the latest funding, we aim to scale up our online business and open franchisee stores in tier-2 and tier-3 towns,” said Alok Chawla, co-founder of Gizmobaba.com.

The funding comes after Amit Kumar joined the team as the chief financial officer (CFO). Kumar was previously the CFO of Just Buy Live, an e-distributor that connected shopkeepers with consumer brands.

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Gizmobaba’s current investors include Jaideep Nandi, CEO, Asian Paints PPG India, Sunit Mehra, managing partner, Hunt Partners India, Mazhar Faruqi, Jayesh Kamat and Sandeep Padoshi, co-founders, WOW Express, Faisal Khan, CEO, Bahrain Operations, Al Sharaf DG and Ajay Prabhu, co-founder, Quest Global.

Operated by Cosmos Online Pvt. Ltd, Gizmobaba was founded by Alok Chawla and Neeta Rijwani Chawla in 2013. Alok Chawla is a serial entrepreneur in the online payments and cross-border e-commerce space. Prior to Gizmobaba, Alok co-founded ZipCash.

Gizmobaba.com is an online marketplace for curated gadgets, electronics, accessories and small appliances. The company has been growing at 23% annually for the last four years and clocking gross merchandise value of over Rs 1 crore a month, according to Alok Chawla.

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Gizmobaba.com has completed over 2,50,000 transactions since its launch, and currently delivers to over 14,000 pincodes, an official statement said.

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