eYantra, a Hyderabad based brand merchandising and corporate gifting solutions company, has raised $3.1 million in a Series A funding from Ventureast and Argonaut. eYantra may have reportedly diluted around 15-18% stake for this round.
eYantra is setting up an apparel manufacturing facility, which will have a capacity of 600,000 T-shirts a year and plans to set up office in Connecticut, US. In June 2007, media house Bennett Coleman & Company Ltd. acquired a minority stake in eYantra.
“This funding will help us to consolidate our leadership position and also enable us to foray into direct Internet marketing by capitalising on our marquee client base,” Phani N. Raj, Managing Director, eYantra, said in a statement. The funds will be used for acquiring new clientele, creating an intelligent customer analytics engine.
Another funded company in this segment is Myntra Designs, which last year raised funds from Accel Partners (formelry Erasmic Fund).
Ventureast has a host of investments in India across different sectors like technology, healthcare and infrastructure. Some of the other enterprises funded by it are UsourceIT, 2AdPro and Richcore.