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Phot.AI raises $2.7 Mn to automate e-commerce creative design

EntrackrEntrackr · 4m ago
Phot.AI raises $2.7 Mn to automate e-commerce creative design
Medial

Phot.AI, an AI-driven creative automation platform, has secured $2.7 million in a seed funding round led by Info Edge Ventures, with participation from Together Fund and AC Ventures. The funds will be used to expand the team, invest in R&D, and launch the much-awaited copilot. Phot.AI was co-founded in 2023 by Venus Dhuria, Aneesh Rayancha, and Akshit Raja, who previously built AppyHigh. Phot.AI automates creative design and marketplace listings for e-commerce, brands, and retail by using AI agents that learn which designs perform best. The platform reduces manual effort and costs by up to 80% and enables A/B testing of creatives, boosting conversions by 40%. Phot.AI supports product photography, image enhancement, and batch processing using Generative AI, with over 3 million sign-ups pre-launch.

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Exclusive: Zetwerk raises $20 Mn from Wheelhouse Ventures

EntrackrEntrackr · 1y ago
Exclusive: Zetwerk raises $20 Mn from Wheelhouse Ventures
Medial

Business-to-business e-commerce unicorn Zetwerk has raised Rs 166 crore or $20 million from Wheelhouse Venture Capital in the ongoing Series F funding round. This is the maiden investment for Wheelhouse Venture in the Bengaluru-based firm. The board at Zetwerk has passed a special resolution to allot 40,81,593 Series F2 CPPS at an issue price of Rs 407.39 each to raise Rs 166.28 crore or $20 million, its regulatory filing sourced from the Registrar of Companies shows. As per startup data intelligence platform TheKredible, the firm has been valued at $2.8 billion in the new round, slightly higher than the $2.7 billion reported in its previous round of $120 million. Entrackr had exclusively reported the development in October 2023. Following the fresh proceeds, Wheelhouse got a little less than 1% stake in Zetwerk while Greenoaks remained the largest stakeholder with 21.63% followed by Peak XV partners and Lighspped. Its co-founders Srinath Ramakkrushnan and Amrit Acharya cumulatively command 15.56% of the company. Head to TheKredible for the complete cap table. Zetwerk partners with offline suppliers engaged in the fabrication, machining, casting, forging, and galvanizing of machine parts. Operational in over 15 countries, it claims to serve over 100 customers across more than 25 industries in India, North America, MEA, et al. Continuing its growth trajectory in the last fiscal year, Zetwerk’s GMV (gross revenue) surged 2.3X to Rs 11,448 crore while its losses grew 81% to Rs 109 crore in the same period (FY23).

Fashion brand Theater raises $1.5 Mn in pre-Series A round

EntrackrEntrackr · 10m ago
Fashion brand Theater raises $1.5 Mn in pre-Series A round
Medial

Digital-first western fashion brand Theater has raised $1.5 million in pre-Series A funding round led by Prath Ventures along with participation from existing angel investors. The proceeds will be used to drive growth through new channels like quick commerce, expand offline presence, and accelerate design iteration and production processes, Theater said in a press release. Co-founded by Sarthak Aggarwal, Vikram Jain, Karan Jain, and Shruti Aggarwal, Theater leverages deep fashion expertise alongside robust brand-building and startup scaling capabilities to create a distinctive presence in the market. It aims to empower fashion design landscape and mass-premium fashion brands, specializing in women’s footwear, stockings, perfumes, and bags. Theater aims to transform the Indian fashion landscape through a design-centric approach and creates a large business with a differentiated offering.

Flexport unveils ecommerce tools as returned CEO aims to regain profitability

Economic TimesEconomic Times · 1y ago
Flexport unveils ecommerce tools as returned CEO aims to regain profitability
Medial

Logistics startup Flexport is launching services to simplify the import and fulfillment process for small businesses selling on e-commerce marketplaces. The new services, called Revolution and Flexport+, aim to automate and streamline various tasks that small businesses typically perform across multiple spreadsheets and platforms. Flexport's offerings include freight services, supply chain financing, customs paperwork, and product storage, aiming to help sellers reduce costs and complexity. This move comes as Flexport seeks to regain profitability amid a challenging freight market. The company also recently acquired Shopify's logistics business, including e-commerce fulfillment provider Deliverr.

Rural commerce startup Rozana raises $22.5 Mn led by Bertelsmann India

EntrackrEntrackr · 1y ago
Rural commerce startup Rozana raises $22.5 Mn led by Bertelsmann India
Medial

Rural commerce startup Rozana has raised $22.5 million led by Bertelsmann India Investments (BII) with participation from Fireside Ventures and existing investors. Earlier to this round, the startup had raised $2.5 million in its pre-Series A round from 3one4 Capital and Europe’s IEG – Investment Banking Group in April 2022. The new proceeds will be used to expand Rozana’s warehousing and logistics reach into new districts, enhance its technology platform, and ramp up hiring across technology, product and operations teams. Founded in 2021 by Ankur Dahiya, Adwait Vikram Singh, Mukesh Christopher and Prithvi Pal Singh, Rozana operates an e-commerce platform and logistics network focused on serving the needs of rural communities in India. The startup presently serves more than 12,000 villages across 13 districts in Uttar Pradesh and Haryana. Rozana has built a hyperlocal e-commerce model using village-based “peer partners” to make last-mile deliveries. This allows Rozana to offer rural customers convenience through delivery to their doorstep while keeping costs low. Currently, it has a network of over 18,000 peer partners, who can earn additional income through Rozana.

Myntra Design receives $125 Mn from parent entity

EntrackrEntrackr · 1m ago
Myntra Design receives $125 Mn from parent entity
Medial

Myntra Design, a fashion e-commerce platform owned by Flipkart and operated in India, secured Rs 1,062.5 crore or $125 million from its Singapore-based parent company FK Myntra Holdings. Prior to this, Flipkart infused $81 million in Myntra’s holding entity in Singapore. The board at Myntra allotted 19,43,753 equity shares at an issue price of Rs 5,466 each on a right issue basis to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. This development comes at a time when e-commerce platforms are facing intense competition, further heightened by the re-entry of Chinese fashion brand Shein into the Indian market through Reliance Retail. Flipkart acquired Myntra in 2014 for $240 million. The fashion e-commerce major turned profitable in the fiscal year ending March 2024, reporting a profit of Rs 30.9 crore—a significant turnaround from a massive loss of Rs 782.4 crore in FY23. During the same period, its revenue from operations surpassed Rs 5,100 crore. In November 2024, Myntra entered the quick commerce space with the introduction of its new feature, M-Now to deliver fashion and beauty products in just 30 minutes to 2 hours to compete with other major players in the space including Zepto, Blinkit, Instamart. Flipkart also joins the likes of Pine Labs, Razorpay, Meesho who are relocating their domicile to India ahead of their public listing.

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