Chumbak Designs receives funding

Bangalore-based Chumbak Designs has received a second round of funding from venture capital (VC) firm Matrix Partners. This VC had invested $2 million (about Rs 12 crore) in the first round of funding for Chumbak Designs. 
 

The funds received will be used to ramp up distribution and expand its offline presence, besides building an internal team for the e-commerce business.

Co-founded by Vivek Prabhakar and Shubhra Chadda, this company claims its sales are growing 300-350 per cent annually.