Gajty, a wellness chain that has 60 outlets (Spas and Salons) operating in Gurgaon currently, has raised a seed round of funding from Purvi Ventures, a US based VC firm & others angel investors. The raised funding will be used by the startup for technology enhancement as well team expansion in the multiple geographies.
Started in October 2015 by IIT Kanpur graduates – Ashish Kumar and Manoj Kumar, Gajty is building a branded chain of wellness outlets across the country that will include physical salons, spas and Ayurveda centers among others.
Talking about the venture, the startup’s Co-Founder, Manoj Kumar told iamwire, ” Gajty solves the problem of quality & standardization of service types/rate card at an affordable price in the hyperlocal area for beauty and wellness services. A person can give both last minute and advance orders for availing services from these outlets as per his/her availability of the time and physical location in real time.”
The startup has also launched an Android app for merchants, sales people and customers (In beta) to facilitate everything with ease in real time. More than 15,000 orders have been booked on this platform with an average ticket size of Rs 800. The current run-rate is 250 orders per day.
Commenting on the traction details, Manoj further added, “We are taking mobile first approach where we are optimizing our platform for all the mobile devices. 90% of the people reach us through Mobile phone, where the journey starts with a mobile responsive website and then move to the Apps.”
Going forward, Gajty would be covering all the Metros & Tier 1 cities in 2016. Also, the company is talking to the investors to raise a Series A round of investment which will accelerate its plans to be the Go-To brand for availing Beauty and Wellness services.
The startup faces competition from players like Purplle, Ziffi and Stylofie. In January 2015, Purplle.com raised an undisclosed amount of funding from IvyCap Ventures. A couple of days back, beauty and wellness startup, Stylofie, has acquired Hyvestyle in a part-cash and part-equity deal.
However, talking about its differentiation factor against the existing players, the company added, “Multiple players are targeting this industry from multiple angles and we believe that the market will accommodate at least a few players.
We are quite different from our competitors as we focus on the quality of the outlet within a hyperlocal area with selected outlets meeting our standards whereas in case of our competitors it’s getting all the outlets onboard irrespective of price & quality or ultimate customer value.”
Gajty claims that it has attained strong unit economics in the last 4 months, while remaining in the Beta mode and is working on even improved product offering which will be launched publicly early next month.
Ashish Kumar is a Computer Science Graduate who previously Co-founded Tekriti Software which was acquired by Kellton Tech, a BSE listed software company. He has experience working at companies like Microsoft in the USA and was India CEO of BSE listed Kellton Tech before starting Gajty.
Manoj Kumar is an Engineering Graduate and completed his MBA from Henley Business School, U.K. Prior to Gajty, he was VP (Marketing) at Knowlarity and had a stint as COO of MakeMyTrip invested MGHWorld.