The investment in Ourbetterplanet is a part of VANS Group’s strategy to invest in tech-enabled scalable start-ups in the space of e-commerce, edutech, fintech, food tech, and mobility
VANS Investments, a part of VANS Group led by Dr. Srinivas Chunduru (former senior advisor at OLA and former CXO at the Piramal Group), has invested an undisclosed amount in Bangalore based e-commerce company Ourbetterplanet, a marketplace for sustainability, products, services, and ecosystem.
The investment in Ourbetterplanet is a part of VANS Group’s strategy to invest in tech-enabled scalable start-ups in the space of e-commerce, edutech, fintech, food tech, and mobility. Ourbetterplanet is raising around USD 300,000 at a valuation of USD 2-2.5 Mio, in its maiden funding from various investors including VANS and Manoj John, a former VP with the KK Birla group, among others, for expanding its business.
“Ourbetterplanet has received a big endorsement from investors like Dr Srinivas Chunduru and Manoj John, who have infused capital in the company to support its growth plan. This capital will support our expansion plans. We are in discussion with a few more marquee investors for this round,” said Pallavi Srivastav Founder of Ourbetterplanet. The company plans to utilise these funds for expanding its team, brand building, launching new products and for scaling its distribution –both in retail and digital/e-commerce, Pallavi Srivastav said.
Commenting on the investment, Vans Group Founder Dr. Srinivas Chunduru said, “It is our endeavor to invest in an interesting scalable start-up that is led by a passionate founder. While, there are several “marketplaces” into sustainability, the business model of OurBetterPlanet was interesting and unique. We are confident about its growth story and the business model.” Subsequent to this investment, Dr. Srinivas Chunduru, will be inducted in the Board of Directors of Ourbetterplanet as a non-Executive Director.
“Dr. Chunduru and Manoj John will play an instrumental role in chartering a robust 5-year strategic plan and also put in place systems and best practices to achieve the growth plan,” Pallavi Srivastav added. Vans Investments has so far made investments in six start-ups in the space of fintech, food tech, mobility, Edutech and e-commerce.
Source: Business World