VAC

Shopsity raises seed funding from founders of ShopClues & Netprice

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.

vac
 “Online to offline is going to be a multi-billion dollar space, probably larger than e-commerce. We have seen its success in Zomato (restaurant listings, review and food delivery) and Ola (taxi-hailing service), but retail is a much larger industry,” said Ahmed. “We’re playing at a convergence of local, social and commerce, creating an experience that will be relevant to millions of users globally.”

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.

 

Team Bizztor

Bizztor is a Media Platform focused on Educating, Connecting and promoting startups.
Our vision is to help early-stage startups and be a part of their growth. we believe that startups have the potentials to create solutions for community problems and we see ourself as helping hand to such entrepreneurs.

vac

Join Our Mailing List

Recieve Weekly updates from the Startup Community.

By signing up, you agree to our Privacy Policy

Top