Hyderabad-based corporate gifting firm Capricorn Gifting Solutions has received an undisclosed amount in seed funding from Seeders Venture Capital, the company has disclosed in a statement.
The proceeds will be primarily used for business expansion and investments in technology, branding and marketing, founder and chief executive officer Rajiv Lulla said.
Founded by Lulla in April 2011, Capricorn Gifting is a corporate gifts and promotional products company with clients across IT, pharma and various other industries. The firm also offers products from global brands like Reebok, Adidas, UCB, Belkin and Braun.
Capricorn Gifting competes closely with eYantra, a Hyderabad-based brand merchandising and corporate gifting solutions firm. Last year, eYantra raised $7.8 million in its series B funding, led by Argonaut Private Equity. In October 2008, it had also raised $3.1 million in series A funding from VenturEast and Argonaut.
Seeders Venture Capital primarily funds software, mobile, Web services and gaming companies which offer differentiating products or services where Internet is a key enabler. It has recently invested an undisclosed sum in Bangalore-based online social learning start-up Eduora Technologies and has also funded CarSingh, an online platform that helps users buy and sell used and new cars.