Canvera successfully raised Rs. 15 crores in Dec 2015 from existing investor InfoEdge. The funds will support aggressive growth plans & product development. This is a strong validation of Canvera’s vertically integrated business model & traction in the marketplace. Canvera is a market leading, fully integrated photography company supporting professional photographers with integrated online solutions across 700+ cities all over India.

Canvera has recently taken a significant position in the B2C online classified space. It helps consumers find & sign on relevant photographers to meet their photography needs. Canvera is consolidating its leadership position in the photography market in India by bringing a variety of innovative products and services. As part of its market leading innovations, in Oct 2015 Canvera released new ranges of photobooks. This includes an industry first Momentbook range for consumers that address a significant market gap, creating new photobook opportunities.

Canvera’s innovations include the industry’s first photobook viewing mobile app launched in 2015. Installs for the app have grown strongly crossing 150K. Canvera’s photobook volumes also continue to show robust growth. Canvera’s B2Conline classifieds directory now has 10K+ photographers listed from over 700 cities from every part of the country making it the go to site for consumers. With high level of hand holding by Canvera, it is very easy for consumers to find photographers of every kind for personal or corporate occasions.

Info Edge sees positive traction in the initiatives undertaken by Canvera

Photographers are delighted as they get very high quality business enquiries and conversion. Ranjit Yadav, CEO of Canvera said, “Canvera is best placed as a vertical player in the photography eco-system. We see momentum across all the different product lines& businesses. Canvera is a pioneer in the photography space and will continue to work on bringing innovation to the photography industry. Canvera will delight consumers & photographers with best in class offerings. It is great to partner with Info Edge in this journey.”

Chintan Thakkar, CFO of Info Edge said, “Info Edge sees positive traction in the initiatives undertaken by Canvera. The photography market is underserved and Canvera is well set-up to realize these opportunities with the new CEO at its helm. Info Edge has invested Rs.15 crores in an internal round to support Canvera’s business growth & product development.”

Courtesy by www.businesswire.com