[Funding alert] We Founder Circle invests $150K in CouchFashion’s seed round
Couch Fashion, a New Delhi-based B2B fashion tech startup, has raised $150,000 in its seed funding round from We Founder Circle (WFC), a startup investment platform.
CouchFashion provides fashion-specific image recognition technology and content network platform to ecommerce companies and fashion brands to help them transition into the new age of content commerce.
The startup plans to utilise the capital to increase product offerings to customers, content partnerships, as well as expand its team.
Neeraj Tyagi, Founder and CEO of We Founder Circle, said:
“After the pandemic, one industry that has witnessed boom is ecommerce. India’s ecommerce market alone is expected to grow $100 billion by 2023. As a result, there is a lot of innovation happening in this segment to attract, engage, and retain consumers. CouchFashion AI (artificial intelligence)-enabled style recommendation engine helps ecommerce giants to do exactly the same. Its technology solution recommends a variety of style options to users in real time when they want to buy a product on these ecommerce platforms."
Rohit Jaiswal, Co-founder and CEO of CouchFashion, said: “We are glad that WFC believed in our model. Along with their funds, we are excited to have strategic investors onboard, who, along with their industry experience, bring their business acumen to the table, which will immensely help us to grow CouchFashion globally in the coming years.”
CouchFashion claims that its content commerce tools add value throughout the customer journey — from bringing customers to ecommerce platforms and inspiring them to make the right purchase to increasing the purchase size, lowering returns, and re-engaging customers post purchase or in case of abandoned carts.
As part of its growth plan, the startup aims to hire several talented professionals across departments. The firm is strengthening its technology and content backbone, which will enable it to associate with several international ecommerce brands by the end of the next fiscal.