Sequoia Capital India Invests $6.25 Million In Printo Document Services
Fri, 10/26/2007 - 02:19 — Sahad P V
Printo Document Services Pvt Ltd, a Bangalore-based print and document services retail chain, has announced that it has received Rs 25 crore ($6.25 million) investment from Sequoia Capital India.
The company provides internet based printing services of marketing collateral, business cards, brochures, posters, invitations, dairies, timetables, calendars, personalised greeting cards, and so on.
Printo says the Indian print and document services industry is currently estimated to be around Rs 17,000 crore, and that Sequoia investment validates the need for a professional services provider in this segment. Printo is planning a pan India rollout with an investment of over Rs 100 crore ($25 million). It currently has a chain of six stores across Bangalore, and plans to open 250 retail outlets over the next three years across the country.
The company had earlier received angel funding/backing from Seedfund and individuals like Pravin Gandhi (co-founder, Infinity Ventures and SeedFund), Raju Venkatraman (COO and President, FirstSource) and Sridar Iyengar (former TiE Silicon Valley chapter president). The 18-month old company was founded by Manish Sharma and Lalana Zaveri.
