Relevant e-solutions Pvt. Ltd., the company behind fashion recommendation platform Roposo and gift recommendation platform Giveter, has closed its first round of funding from investors including Binny Bansal, co-founder, Flipkart, India Quotient and 5ideas Startup Superfuel. The amount raised is reported to be around USD 500,000.
The capital raised will help in building the technology for the newly launched Roposo, increase the brand visibility among users and develop mobile apps for these platforms. The company is also looking to hire new talent to build algorithms, improve the user interface and market the brand.
The company was founded by Avinash Saxena, ex-CTO of Zomato.com, Mayank Bhangadia, and Kaushal Shubhank.
Giveter is an online gift recommendation website that lets users search for relevant gifts by offering a choice of filters for the recipient’s age, relationship with the user, and occasion. It has tie ups with a lot of online websites and brands, and after picking a gift the user is directed to the partner website for payments. The platform also offers features such as an inhouse gifting aggregation team to choose unique giftable products and Zip-Gift to allow users to send, receive and share gifts on Facebook.
Roposo on the other hand is an effort to branch out from gifts to fashion recommendations. The website aims to serve the most relevant and trending fashion products to individual users with respect to their preferences. The website sorts products based on popularity, ongoing trends, the user’s own style and recommendations of people that the user is socially connected to. These products are picked from existing online retailers, boutiques, designers, or celebrity labels.
While Roposo was recently launched, Giveter was launched around a year ago. The company claims close to 300,000 users visit the website every month. “Though we earn revenue by getting commission on lead generation, revenue is not the focus right now. We want to bring as many users on Giveter and Roposo as possible,” said Avinash Saxena, co-founder, Giveter.
“We were looking to invest in a smart technology startup in the field of eCommerce enablement, that could provide a solution to two important problems- product discovery for consumers and customer acquisition for retailers. Giveter, with its brilliant algorithm, has proven to be a successful gift recommendation site, and when the company extended the same algorithm along with the insights and analytics gained from usage statistics of Giveter to use it in the fashion and lifestyle segment, we felt compelled to invest in this space”, said Pearl Uppal, co-founder, 5ideas.
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