Swageazy raises Rs 7 crore in seed funding
Swageazy has raised Rs 7 crore in seed funding. The clothing and accessories gifting platform startup plans to use its new funds to drive product development, hire talent, and boost its technology.
The funding round was led by venture capital firm Info Edge Ventures and also saw participation from businesses including Anicut Capital’s Angel Fund arm and Huddle Ventures among others, the Economic Times reported. Dunzo’s co-founder Ankur Agarwal and Springworks’ CEO Kartik Mandaville, both known Angel investors, also participated in the round among others.
“Our goal is to bring the efficiency and scale of the digital era to the age-old channel of online gifting,” said Swageazy’s co-founder and CEO Sameer Wahie, ET Retail reported. “It will integrate with current marketing, sales, and HR management applications and enable users to automate gifting based on milestones. We also intend to use data to estimate the return on investment for these gifting initiatives.”
Swageazy’s customisable gifting products include bags, garments, homeware, and tech accessories among others. The business calls its gifts ‘swag’ and offers themed gift packages for occasions as well as for company gifting.
Sameer Wahie and Sneh Setu launched Swageazy in March, 2021. The online platform has partnered with over 125 businesses to date including Amazon, Linkedin, Coursera, Chargebee, and Pidilite among others and has shipped over 30,000 packages.
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