Startup & Entrepreneurship
Former Snapdeal CPO invests in Buttercups and Makkajai
Former Snapdeal Chief Product Officer and angel investor, Anand Chandrasekaran, has invested in two startups as per reports further strengthening his portfolio to 19 startups.
The two startups include omnichannel lingerie retailer Buttercups Intimates and education technology firm Makkajai.
“I am still scouting for deals in spaces like SaaS (software-as-a-service), artificial intelligence, gamified learning and fintech,” said Chandrasekaran.
Arpita Ganesh, the founder, and CEO of Buttercups, “We have always been clear about how we want to build the business. The unique online quiz, which guarantees a perfect fit and allows us to scale beyond geographic constraints, as well as the personalised fitting rooms experience, are both results of this focus.”
Buttercups is a premier lingerie brand that understands the importance of great fitting intimates. The funds raised will be used to accelerate its growth, both in offline and online. The startup is currently working towards opening it’s innovative and experiential fitting rooms across 12 cities.
Chandrasekaran, on his investment and association with Buttercups, said, “I believe that a great business model and innovative product plus a driven and passionate entrepreneur is the recipe for startup success. My association with Buttercups is guided by Arpita’s vertically focused approach and her thoughtfulness in building a modern brand for women.”
“Her emphasis on rejigging the category landscape through deep customer focus and industry knowledge will lead to a very interesting omnichannel business getting built,” added he.
Makkajai has raised $200,000 in its seed round where prominent investors, besides Chandrasekaran, included Mekin Maheshwari, former chief people officer at Flipkart; Ananth Narayanan, the CEO of Myntra and fund-raising platform Lets-Venture.
Usually, Chandrasekaran invests around $25,000, which is Rs 16.7 lakh, in a startup. In June, he disclosed the investment in six startups that included Truce, MagicX, Lucideus, Loan-Circle, Lernr and Rupeek.