ShoeKonnect, a footwear-focused mobile platform startup, has raised a new investment worth Rs 3 crore from Info Edge India.
Currently in a proof-of-concept phase, the New Delhi based startup provides a platform on which manufacturers and buyers of footwear can connect.
“We have invested in ShoeKonnect because it is a young, passionate team with relevant backgrounds in the Indian footwear industry,” Kitty Agarwal, AVP, Corporate Development, Info Edge India said according to news reports. “The platform has been able to build a high level of dependability amongst various stakeholders in the industry i.e. manufacturers, distributors, wholesalers and retailers by bridging the information gap and facilitating transactions.”
Info Edge India (Naukri.com) has previously invested in a number of other startups including Zomato, Policy Bazaar, Meritnation, and BigStylist.
ShoeKonnect, which is owned by Bizcrum Infotech, a B2B platform creating company based out of Delhi, provides a B2B mobile platform which has seen over 2000 buyers since its founding.
“The investment will help strengthen the technology base of the company to scale up operations and expansion in terms of the user base (Footwear Buyers and Sellers across India),” Cofounder of ShoeKonnect, Siddharth Vij, said. “So, the core focus shall be improving technology and expanding the user base – buyers and sellers on the platform.”
ShoeKonnect was founded by Vij, Chaitanya Rathi and Siddharth Rastogi and provides footwear buyers and sellers with a mobile application, which has reached over 200 sellers. The company previously raised seed funding from Indian Angel Network worth Rs 95 lakh in October 2016.
“We are targeting to reach Rs 10 crore monthly GMV with keen focus on repetition and wallet share of bulk buyers and sellers” Vij said.
(Picture courtesy: https://twitter.com/)
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