[Funding alert] Fashion tech startup GetNatty raises undisclosed seed amount
GetNatty, a Vadodara-based online-to-offline (O2O) designer brands aggregator startup and fashion discovery platform, on Tuesday announced it has raised an undisclosed amount as a part of its seed round.
The funding was led by Abhay Kumar, CMD of Grihapravesh Buildteck, Binod Choubey, Firoze Sethna, and Parth Patel, all of whom are entrepreneurs turned investors. The startup has also appointed media and entertainment industry veteran Sandeep Bhargava on the board of advisors, who is credited to launch the motion picture business of the Network 18 group in India.
Commenting on the investment, Abhay Kumar, said,
“One of the main reasons for investing in GetNatty is because of the strong work ethics, honesty, and sincerity of its founders and their ability to pull talented people from diverse backgrounds to work towards a shared vision.”
In a statement, the company said the proceeds from the round of funding will be used by the two-year-old company to build out the technology arm of the business, and bring in new revenue channel formats that will cater to the country's burgeoning fashion design ecosystem.
“We will continue to experiment and bring in new revenue formats, be it in the form of new business channels, fashion events, geographies and product launches ,which will add real value to the fashion community in India,” said Kaizad Hansotia, Founder and CEO of GetNatty.
Founded in March 2016, GetNatty aggregates talented fashion designers under one roof and provides an easy access to the end user to discover and shop the unique styles through an AI powered customer experience both online and offline.
Further, it intends to provide predictive analytics, demand planning, and business intelligence tools to its community of designers to help them scale up.
“Essentially, our aim is to create a robust online and offline platform and a solid infrastructure to enable designers and SME fashion entrepreneurs to acquire more customers, build scale and go global,” added Bheshaj Joshi, Co-Founder and COO of GetNatty.
Apart from its online marketplace, the startup also takes its designers to participate in multiple exhibitions every month in Tier 1 and Tier II cities to acquire customers and create brand recall value. With over 50+ exhibitions participated till date, GetNatty has onboarded over 200+ designers from 20+ cities of India, and is on track to acquire over 1000 designers and more than 100,000 users over the course of the next 6-12 months. Also, it will be coming up with its own one day Experiential Pop-up Show in Mumbai this November.
In January 2019, Bengaluru-based ZoomTail Technologies, which offers ecommerce enablers solutions for fashion SMEs, and people working in them, also secured an undisclosed funding led by Matrix Partners.
(Edited by Megha Reddy)