Inventive Business Promotions Pvt Ltd, which owns and operates online platform for art and craft goods – World Art Community – announced that they have raised a second round of funding of $200,000 from existing investors and more.
World Art Community was launched in December 2014 by IIT alumnus Shobhit Arora. The startup enables artists, craftspersons and designers to create their own online stores and sell their creations. It charges 10 per cent commission on every successful transaction through its platform.
Speaking on the announcement, Shobhit Arora, Founder & CEO, WorldArtCommunity.com, said, “Since the last round, we’ve grown multiple times. From 200 sellers at the time we took the last round we are over 3,000 registered sellers. Likewise customer base has gone up significantly”.
He also added, “The purpose of this round is to multiply the existing module which is performing well and to build our technology platform further for international market. Our objective is to move towards near self sufficiency within next 12 months”.