Powerhouse91, the tech-driven company that acquires growing e-commerce brands in India, on June 30 said it raised an undisclosed amount in a seed round from Crossbeam Venture Partners.
Powerhouse91, which is backed by Snapdeal founder Kunal Bahl's Titan Capital, acquires successful e-commerce brands and grow them through its experience in online selling that is spread across spaces like supply chain, marketing product, and technology.
"We intend to utilise the funds to identify further and acquire high-potential consumer brands. Additionally, a significant chunk of the investment will go towards building the technical capabilities required to operate and scale the multiple consumer brands running under our portfolio," co-founder Shashwat Diesh said.
Founded by Diesh and Aqib Mohammed in early 2021, Powerhouse91 follows the successful model of American unicorn Thrasio, which has caught on in India.