GetNatty Designtech Pvt. Ltd, an online-to-offline designer brands aggregator and fashion discovery platform, said on Tuesday it has raised seed funding from a bunch of individuals.
The investors included Abhay Kumar, chairman and managing director of realty firm Grihapravesh Buildteck, and former Indian Revenue Service officer Binod Choubey, the startup said in a statement.
Firoze Sethna, managing partner at soft drink concentrates supplier Feroze Foods & Flavours, and Parth Patel, co-founder of education firm Edupedia Concepts, also invested, GetNatty said.
The company didn’t disclose the amount it raised.
GetNatty will use the funds to build its technology and diversify its revenue streams.
“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, GetNatty.
The company's aim is to build a platform to help designers and small and medium-sized fashion entrepreneurs to expand their customer base and go global, added Bheshaj Joshi, co-founder and COO.
Hansotia has an MBA from IBS Mumbai while Joshi studied software engineering and physics at San Jose State University, their LinkedIn profiles shows. Both of them had other entrepreneurial experiences in the past.
The startup, which was founded in 2016, aggregates fashion designers. It uses artificial intelligence to help customers discover the designs and shop for them both online and offline. It also assists designers to participate in exhibitions in cities to boost their visibility.
GetNatty has more than 200 designers from over 20 cities in the country on board.
Fashion-tech startups
There have been few investments in the fashion-tech segment even though the broader fashion sector, including brands, has attracted significant investor interest.
In January, Matrix Partners India led a seed round of funding in Bengaluru-based Zoomtail Technologies Pvt. Ltd, which offers e-commerce enabler solutions for fashion retailers.
In January last year, tech-enabled fashion startup 6Degree, which is operated by Protinus Fashion Networking Pvt. Ltd, raised $400,000 from the Indian Angel Network and TAN Advisors (The Angel Network) in a pre-Series A round of funding. This was the IAN’s second investment in 6Degree.
In late 2017, StyleCracker, a fashion portal where users can order celebrity stylist-curated products, raised funding from actor Alia Bhatt.
