Anti e-commerce startup Shopsity has raised an undisclosed amount of funding from Sandeep Aggarwal, founder of ShopClues and Droom, and Teruhide Sato, founder of Netprice. The Delhi-based company will deploy funds for expansion, hiring bright talents and spruce-up technology capabilities. Led by Danish Ahmed, ex-CEO of Yebhi.com, Shopsity has already listed thousands of stores from Delhi/NCR, allowing customers to see products selling at Woodland, Redtape, W, Mufti, Nike, Levis and other stores.
Founded a month ago, Shopsity, through a mobile app, provides information on fashion products being sold in stores in the user’s vicinity. It has listed over 1000 stores from across the national capital region.
India’s apparel industry is estimated to grow at a CAGR of 9%, reaching $102 Bn by 2023. As per Google India, online fashion retail market, which is the largest contributor to the organised retailing market in India, is expected to reach $35 Bn by 2020.
Shopsity plans to raise another $8 Mn soon.