VC Fund Investments
Artwork packaging focused Karomi Tech raises $2-M from CSVP Fund, Ideaspring Capital
Chennai-based Karomi Technology, a packaging management SaaS (software-as-a-service) platform (under the brand ManageArtworks) which digitises the design-to-print process, has raised USD 2 million led by Cornerstone Venture Partners Fund (CSVP Fund), with participation from existing investor Ideaspring Capital. ManageArtworks helps companies in industries such as pharmaceuticals and CPG (consumer packaged goods), reach their products to market faster, while ensuring regulatory compliance. ManageArtworks is currently working with more than 4,000 brands including those from P&G, Dr Reddy's Laboratories, Wockhardt, Dabur, Amul, JBS Group, Taylor Farms and TFE Wines. Karomi aims to build industry-first tech and data solutions including the use of AI and ML to optimise artwork design. It will use the new funds to bolster its presence in the US and expand into Europe, in addition to its existing presence in France.
From the Venture Intelligence PE-VC Deal Database: In Mar-17, Karomi had raised over INR 3 Cr from IdeaSpring. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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