Pop culture cargo startup Cover it raised funding for Rs 3.5 crore in the seed round led by angel investors Sanjay Wadhwa, Manish Mardia, Madan Lal Gundecha, Vimal Jain and Nishank Sakaria.
Found by Ronak Sarda in 2014 in Chennai with a bootstrapped capital of 21,000 Rs, Cover it Up entered the market bringing custom smartphone cases and then constantly diversifying to unique LED cases as well as 3D cases. The company now customizes unisex t-shirts, sweatshirts, diaries, AirPod cases, notebooks and annual planners.
Commenting on the funding, Ronak said:
“The company intends to use this round of funding to strengthen operations by bringing in new and creative talent, while focusing on research and development and IT infrastructure development, which will lead to an improved product portfolio.”
Some parts of the funds will also be used for research and development to improve the range of existing products and also to create new ones, he added.
Cover it Up has delivered approximately 1,20,000 products for 2019-2020, while this year it expects to sell 1,50,000 units.
Over the years, Cover It Up has collaborated with several top brands worldwide such as Marvel, DC, Warner Bros., FRIENDS, Harry Potter, Star Wars, Disney and Looney Tunes to sell their merchandise. The brand has also been the official cargo partner for Chennai Super Kings, Kaala, Darbar, Robot 2.0 and has recently linked up with NASA.
To establish a global footprint, the team also wants to create compelling content on the website by adding features such as Augmented Reality (RA) to enhance the customer experience.
“Customer experience and relativity to goods play a key role in this niche area in which we operate. Therefore, our business model is largely based on the constant modernization of engineering and design skills. With this merger, the company aims to reach revenues of 25 million euros by the next financial year “, added Ronak.
The Cover It Up product range now includes home products. The company also aspires to meet the growing demands of customers for a variety of goods after the growing popularity of OTT platforms during the blockchain.