India focused private equity firm Gaja Capital firm has led an 85 crore investment round in lifestyle venture Chumbak Design. This latest round has also seen participation from Chumbak’s existing investors such as Matrix Partners India and Seedfund. In addition, Narayan Ramachandran, operating partner at Gaja Capital, has also invested in his personal capacity.

Planning to Showcase its Products through Tie Ups

Chumbak, founded by husband-wife duo Vivek Prabhakar and Shubhra Chadda will focus on the top 5 to 6 metros, and will also be showcase its products through tie ups with the larger departmental chains.

“We also plan to enter overseas markets such as Indonesia, Malaysia Singapore and Hong Kong by the second quarter of calendar year 2018,” Prabhakar said.

About Gaja Capital

This investment led by Gaja Capital is also the third investment made by them and is led by a woman entrepreneur. The firm had previously backed Visage Holdings and Finance, which operates Kinara Capital, and is led by former Accenture senior executive Hardika Shah.

Gaja Capital has also invested in pre-kindergarten and K-12 school chain Kangaroo Kids Education Limited. The investment in Chumbak is the PE firm’s sixth bet from its third investment vehicle – the $240 million Gaja Capital III.