Venture Catalysts has facilitated a seed investment into CoutLoot, a fashion reselling service platform.
CoutLoot will be utilising the funds for geographical expansion and launch of new product categories, and will be additionally strengthening its technological framework.
Founded by MahimaKaul, Sahil Khimavat, Vinit Jain& Jasmeet Thind, CoutLoot has seen sales of 2,000 items since inception, has an inventory of 6,000 clothes.
The service is currently available for sellers located in Mumbai, Delhi/NCR, Pune, Chandigarh, Chennai, Hyderabad, Kolkata and Bangalore and delivers to buyers all over India.
Jasmeet Thind, Co-founder, CoutLoot,said, “We are glad to have secured the investment through VCats, which is steadily consolidating its position within the Indian start-up community as an innovation-centric startup enabler.We will be looking to leverage the funding to drive geographical and category-wise expansion for our platform.As technology has always been a priority for us, we will also be looking to strengthen our tech framework in order to bring in better customisation and in-depth curation for our listings.The idea is to develop a strong, robust business model which can be then replicated across the country, even internationally."
The venture firm earlier invested into ventures such as Vahanalytics, vPhrase Analytics, Siftr, ConfirmTKT and LenDenClub.