Bangkok-based online printing startup Gogoprint has reportedly secured funds amounting to $7.7 million in Series A funding round. The round has been led by existing backer OPG (Online Printing Group), an investment firm from Kai Hagenbuch.
With these funds, the company is planning to expand its business in Asia Pacific. It is looking to go beyond Southeast Asia and enter Australia, New Zealand, South Korea and other markets over the coming 12 months.
Gogoprint claims to have been associated with around 45,000 companies as of now. The company’s major services include printed business cards, flyers, booklets, posters and more, in addition to marketing collateral such as promotional pens, other stationary and flash drives.
Gogoprint is aiming to upend the industry in Southeast Asia with the help of something known as “batching” which involves bundling a range of customer orders together for each print run to ensure that each sheet that’s sent to the printer is filled to capacity, or near capacity.
The company makes use of the internet to reach a wider number of customers which, using technology to batch jobs, means that it can handle more orders with fewer printer runs. Also, there are benefits for printers which is very rare in today’s increasingly digital world.
Funding has become a vital part of businesses these days especially startups, and with these the companies are expanding and growing at a great pace. Let’s see what Gogoprint will have in its account after this fundraising.