ShoutO Raises $1.6 Million In A Pre-Seed Funding Round; Launches Operations The funds will be utilized to develop products, acquisition of creators and engagement and to build a strong founding team of engineers and creator success managers
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Fashion discovery platform Shouto.app, has formally launched its operations. The Company has raised $1.6 million in a pre-Seed round led by Saama. Other investors who participated include Whiteboard Capital, Google veteran and former head of search Amit Singhal, Arjun Vaidya along with 25 D2C founder angels. The funds will be utilized to develop products, acquisition of creators and engagement and build a strong founding team of engineers and creator success managers.
"We want to build ShoutO as a starting point for fashion discovery connecting these two opportunities and simplifying the shopping process. At ShoutO, we are building a community of 'by-invite only' creators we have handpicked for their genuineness and scale. With this community creators can fulfill their passion of spreading their style and helping their fans and followers discover new fashion recommendations while creating a linear source of income on the ShoutO platform," said Maruthy Ramgandhi, co-founder and CEO, ShoutO
"We are seeing social and creator-focused shopping startups gain a lot of traction in other markets, especially the US. ShoutO's focus is to have an amalgamation of both these approaches to be able to build a top fashion destination for young Indians," said Ash Lilani, managing partner, Saama.
On the business front, ShoutO has already scaled to 50-plus creator stores with 3000-plus fashion recommendations on the platform catering to a wide range of themes from streetwear to ethnic, casuals to holiday wear and much more. ShoutO's creators cumulatively add up to half a million followers on social media, especially on Instagram. The platform has 60,000-plus monthly active users, which is a 510 per cent jump month-on-month. ShoutO aims to have 500,000 monthly active users by December, which the company will look to raise a larger seed round.
Co-founded by former Myntra, AJIO and Amazon executives Maruthy Ramgandhi, Abhishekk Handa and Ayyappan Lakshmanan, ShoutO aims to build a new online fashion shopping experience targeting Gen Z and young millennial consumers, offering them a platform to discover and shop premium fashion brands as well as discover private-labels. The company is focused on building new and differentiated shopping features and creator-driven style curations that work well for modern fashion categories like athleisure and street, and serve consumer preferences like sustainable clothing and extended sizes including plus, petite, tall etc. ShoutO fashion creators create their Shopify-like stores, recommend products, and monetise based on traction, while consumers browse and discover styles suggested by their favourite fashion creators.
