The world has opened up to the benefits of online retail and services, while searching for the right product still remains a challenging task. Mumbai-based a six month-old eCommerce product search engine Skoov.com is solving this problem using its search technology. It was founded by Co-Founders Samarjeet Reen (CEO), Gaurav Bhardwaj (CMO) and Amit Sathe (Head of Strategy).
Skoov is an eCommerce product search engine which helps customers to search right products across eCommerce in India. Through Skoov’s search technology, the search engine will allow users to simply type what they are looking for, and search. The startup claims that it helping customers to make buying decisions within 3 clicks from typing in their queries.
It currently offers online buyers the ability to freely search for products across fashion, electronics, home and décor, with a view to adding more categories shortly. The startup also focuses on the long tail ecommerce companies that do not show up on the traditional search engines. It allows small etailers, that do not feature on the first few pages of search results, to be able to make their products “searchable” without spending too much on SEO costs.
The company has raised seed funding worth Rs.1 crore from a private investor which is being used to setup its tech team in Bangalore. It is also looking to raise $3 million in next 3-6 months. The startup had over 70 transactions through its engine and are looking to hit over 60,000 searches by the end of the month.
Skoov claims that it works with 45 eCommerce sites and help customers search and find 3.7 million products. It work as an affiliate for its eCommerce partners. So the company’s current revenue comes from the sale that happens through its search engine.
Talking about their future plans Gaurav said, “The immediate plan is to strengthen the tech and scale to other verticals. We want to be able to cover the entire length eCommerce in the coming year.”
The total addressable search driven GMV for eCommerce in 2018 would be $38 billion. Commenting on Skoov’s market share, Gaurav told iamwire, “Our business, if capitalized to its full potential, could capture a market share of 3% of total addressable GMV by 2018, which is $1.1 billion.”
The eCommerce business in India seems to be overcrowded. If a startup could have a simple and effective product search solution that works smoothly on all our devices without going through cumbersome filters, would that not make life simpler and purchasing easier?Category Startups