Shopwati a Gurgaon based online fashion community which was founded by Prachalit Infomedia Pvt Ltd, has raised an undisclosed amount of seed funding from SRKK Advisors a boutique investment company. The funds will be used in technology development and vendor & customer acquisition outside Delhi.
Shopwati was founded in 2015 by Ankit Bajaj and Mehak Suri. It allows the users to look for accessories and clothes with the help of more than 55000 community members including bloggers, stylist, designers, brands and private labels. Built around conversation, Shopwati community allows its users to find the products and take a poll on what to buy and where to buy.
Ankit Bajaj, Co-founder and CEO of Shopwati said,
“We aim to build a strong community which helps each other make better fashion choices. Unlike every other Fashion Discovery App, Shopwati is not just about finding fashion inspiration, it aims to help people who want to act on it”
Unlike other startups Shopwati not online find fashion inspiration but it aims to allow people to procure it. It enables the users to find accessories and stylish clothes, through users, bloggers and community vendors for best deals.
Shopwati claims to have more than 300 queries a day and have crossed a GMV of more than Rs 1.5 crore within six months. With a conversion rate of over 35% it claims to have answered more than 95% queries within 24 hours.
Mehak Suri Co-founder and COO of Shopwati said
“Most women know what they will wear for a particular wedding or event two months later; what they don’t know is where to buy it from, and we see that as a huge opportunity. On Shopwati, thousands of vendors respond to queries of users looking for clothes, makeup, accessories, footwear or gift ideas.”
Its competitors include WithMe which raised a funding of $250k from angel investors and Wooplr which raised an undisclosed amount of funding from InMobi Co-founders.