Bengaluru-based Text Mercato Solutions has raised a funding round of Rs. 4.85 crs. led by 1Crowd. Hong Kong based startup accelerator Betatron, and few individual investors including former CEO of HSBC Africa Andrew Dell and Sequent Software CFO Raaj Shah also participated in the round. ValPro’s startup advisory vertical, Enablers, was the sole advisor on this transaction.
Text Mercato runs an eponymous cataloguing and content management platform. It leverages technology such as image and text recognition, text generation, online data processing and character recognition to help ecommerce firms catalogue and list products online. The company serves over 100 clients across industries such as fashion, electronics, FMCG and hospitality, in India, China, France, Singapore and UAE.
The company shall deploy the funds for technology & product development, customer acquisition and team expansion.