SaaS-based logistics reconciliation platform for e-commerce channels, Don’t Scratch Your Head (DSYH), has raised $250,000 (around Rs 1.7 crore) from seed investment platform Venture Catalysts and other investors.
The round was led by Gaurav Singhvi, managing partner, Venture Catalysts, Surat operations and Mumbai-based Zaffiro Ventures, according to a company statement.
“Since reconciliation can directly impact the profit margins of sellers on e-commerce platforms, providing such an innovative problem-solving solution will definitely add great value to the entire e-commerce ecosystem,†said Singhvi, on the investment.
DSYH, run by Reconnext Labs Pvt. Ltd., allows sellers associated with multiple marketplaces to reconcile accounts, payments, returned orders, promotional amounts through a single, consolidated window.
The Ahmedabad-based company was founded in August last year by Suraj Vazirani and Sumit Karanji. Vazirani has earlier founded e-commerce portal Hari Vaag, and has also been a core team member at Travelguru.com. Karanji has earlier worked with Maruti Suzuki and Bajaj Allianz.
The startup was earlier accelerated at Reliance Industries’ GenNext Hub, which is powered by Microsoft Accelerator India. DSYH claims to have reconciled more than 500,000 orders with gross merchandise value of $7 million through its platform till now.
Last week, Ventures Catalysts had raised $500,000 (around Rs 3.4 crore) from Zaffiro Ventures. This round puts the seed innovation platform at a post-money valuation of Rs 40 crore.
Venture Catalysts – founded by Apoorv Ranjan Sharma, Anil Jain, Anuj Golecha and Gaurav Jain in December 2015 – invests $100,000-250,000 in very early stage startups in the Internet of Things (IoT), artificial intelligence, ad-tech, virtual reality, education, e-commerce and retail space.
Venture Catalysts’ portfolio includes startups such as train discovery platform ConfirmTKT , photography curation venture Siftr Labs Pvt. Ltd , data analytics firm vPhrase Analytics Solutions Pvt. Ltd , peer-to-peer lending start-up LenDenClub , driver analytics firm Vahanalytics, among others.
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