VCCircle

Myntra Designs, a Bangalore-based company that provides customised gifts and merchandise such as T-shirts, mugs, key chains and other consumer products, has raised an undisclosed amount of funding from early stage VC firm Erasmic Venture Fund and other investors like Sasha Mirchandani of Mumbai Angels.
Mirchandani has joined the board of the company.
The funds will be used for procuring advanced technology for on-demand printing, scaling up the operations, and undertaking new marketing initiatives, a release from the company said. Myntra was founded in July last year by Mukesh Bansal, an IIT Kanpur graduate. Bansal said the funding covers one year's operational expenditure.
Myntra essentially offers consumers the power to design their own gifts and merchandise. There are several offline merchandise companies in India, but they serve corporate clients rather than retail consumer. One such company - Hyderabad based eYantra - received funding from media group Bennett, Coleman and Company early this year.
This is the third investment from Bangalore-based Erasmic, which has also funded travel information portal HolidayIQ and search engine optimisation company Position2.