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Tag: Prashant Malik

  • LimeRoad For Men revolutionises online shopping & style discovery for men

    LimeRoad For Men revolutionises online shopping & style discovery for men

    MUMBAI: Limeroad revolutionized style discovery for women, today announced the launch of its new offering – LIMEROAD for Men.

    LIMEROAD for Men is launching with 100,000+ style suggestionsand products for men, in order to address a unique need gap – people care deeply about how they look, yet find it difficult to find what they love when shown millions of options. LIMEROAD’s unique community of 200,000+ scrapbookers together with their deep algorithms create for users, fresh, unique looks, every 30 secondson the platform.

    LIMEROAD for men includes 23 sub categories of apparel and accessories from over 250 Indian and International brands, together with tens of thousands of innovatively styled looks like “Style-like-bhai, shirts & sneakers, island style, cheeky graphics and minimal prints.”

    This is a first for Indian men, who will now be able to look at their favourite stars, movies, sports heroes, as well as the latest trends in fashion and pick similar, affordable styles at a click – all thanks to LIMEROAD’s unique extensive community of stylists, called scrapbookers. As users keep repeating on LIMEROAD, the platform’s personalization algorithms kick in, thus automatically getting users closer to what they are likely to like the most. It is this content that drives the highest engagement and conversion rates in the industry – 13.5% for repeat users, and 7.5% for new users on the LIMEROAD app.

    “Our mission is to build India’s most extensive discovery platform, driven by unique engaging content. We started out solving the problem first for women, and tackled the most fragmented of supplier and option ranges, enabling women to discover local and global trends like indie/ikat, gota patti, palazzos or fringes and botanical prints, pretty much as soon as they are first seen. All of this at super affordable prices. We will now bring this same discoverability to Indian men. We are ultimately democratizing fashion.” says Suchi Mukherjee, Founder & CEO, LimeRoad.

    At launch, the internal team at LIMEROAD, 70% of who are men, were simply ecstatic. Says Prashant Malik, co-Founder & CTO, “I have spent the last 3 hours simply unable to do anything else but browse the platform. So glad we have launched LimeRoad For Men. Why should girls have all the fun?” Anuj VSN, LIMEROAD’s new CMO adds saying “We are solving a fundamental problem for men. We believe that at a macro level, men are getting more conscious about how they look, driven by local and global influences. And LimeRoad For Men is a delightful way to solve the problem.”

  • LimeRoad For Men revolutionises online shopping & style discovery for men

    LimeRoad For Men revolutionises online shopping & style discovery for men

    MUMBAI: Limeroad revolutionized style discovery for women, today announced the launch of its new offering – LIMEROAD for Men.

    LIMEROAD for Men is launching with 100,000+ style suggestionsand products for men, in order to address a unique need gap – people care deeply about how they look, yet find it difficult to find what they love when shown millions of options. LIMEROAD’s unique community of 200,000+ scrapbookers together with their deep algorithms create for users, fresh, unique looks, every 30 secondson the platform.

    LIMEROAD for men includes 23 sub categories of apparel and accessories from over 250 Indian and International brands, together with tens of thousands of innovatively styled looks like “Style-like-bhai, shirts & sneakers, island style, cheeky graphics and minimal prints.”

    This is a first for Indian men, who will now be able to look at their favourite stars, movies, sports heroes, as well as the latest trends in fashion and pick similar, affordable styles at a click – all thanks to LIMEROAD’s unique extensive community of stylists, called scrapbookers. As users keep repeating on LIMEROAD, the platform’s personalization algorithms kick in, thus automatically getting users closer to what they are likely to like the most. It is this content that drives the highest engagement and conversion rates in the industry – 13.5% for repeat users, and 7.5% for new users on the LIMEROAD app.

    “Our mission is to build India’s most extensive discovery platform, driven by unique engaging content. We started out solving the problem first for women, and tackled the most fragmented of supplier and option ranges, enabling women to discover local and global trends like indie/ikat, gota patti, palazzos or fringes and botanical prints, pretty much as soon as they are first seen. All of this at super affordable prices. We will now bring this same discoverability to Indian men. We are ultimately democratizing fashion.” says Suchi Mukherjee, Founder & CEO, LimeRoad.

    At launch, the internal team at LIMEROAD, 70% of who are men, were simply ecstatic. Says Prashant Malik, co-Founder & CTO, “I have spent the last 3 hours simply unable to do anything else but browse the platform. So glad we have launched LimeRoad For Men. Why should girls have all the fun?” Anuj VSN, LIMEROAD’s new CMO adds saying “We are solving a fundamental problem for men. We believe that at a macro level, men are getting more conscious about how they look, driven by local and global influences. And LimeRoad For Men is a delightful way to solve the problem.”

  • Shadowfax bags $300k funding from Snapdeal founders & others

    Shadowfax bags $300k funding from Snapdeal founders & others

    MUMBAI: In view of the booming e-commerce industry, the Gurgaon-based tech-enabled logistics startup Shadowfax has raised funds of $300,000 from multiple investors.

     

    Merely within four months since inception, the hyperlocal merchant delivery services company received the investment in an angel round led by established Indian entrepreneurs such as Snapdeal founders Kunal Bahl and Rohit Bansal, Powai Lake Ventures’ Zishaan Hayath and Limeroad’s Prashant Malik.

     

    The reason they are betting big on the venture lies in the difference in approach, according to Shadowfax co-founder and CEO Abhishek Bansal. “We believe that improving the existing state of last mile delivery and hyperlocal logistics would enable all future business growth. At Shadowfax, we are looking to build India’s most formidable, credible and fastest merchant delivery service. To achieve our aim, we have invested in strengthening our people on-boarding & training with tech-enabled solutions that help us provide 100 per cent service assurance,” he said.

     

    Shadowfax has invested in robust and reliable technology that uses multiple modes of communication in order to provide relevant solutions in the Indian context. It employs integrated GPS tracking functions and automated algorithms in its product to improve the efficiency of the network. 

     

    Shadowfax CTO and co-founder Vaibhav Khandelwal elaborated, “We have incorporated several features that leverage our proprietary end-to-end capacity planning algorithm to put the merchant directly in touch with the rider, geo-location for tracking orders, rider route planning, order coupling etc. that will help us become most efficient delivery company. Our advanced technology around restaurant preparation time ensures riders pick up meals only after they are ready and use the shortest route to navigate their way to their destination. We are single-mindedly focused towards building a highly reliable and smart network that guarantees seamless and accurate delivery which will help us lead this space.”

     

    Facts and figures support Shadowfax’s exponential growth within a short span of time. Since its launch in May 2015, Shadowfax today has an average delivery volume processing of approximately 3000 orders a day and 120-150 outlets that are currently utilising its service for last mile delivery in the Delhi-NCR region. Its service levels have made the company the vendor of choice with the merchants. The growth of the company has been driven through referrals.

     

    “We’re growing very rapidly. We have already created a niche for our services in Delhi-NCR and are looking to strengthen our present team of 35+ employees and 350+ riders and expand into 10 more cities within the next one year. With the recent investment, technology maturity and endorsement from our partners we are well poised to achieve that goal,” says Abhishek.

     

    The company further aims to take its services beyond food delivery and expand its efficient logistical infrastructure to multiple other categories. Angel investor Hayath added, “Abhishek and Vaibhav are focused on using technology as the core to build a strong merchant delivery network. This is a large problem with high fragmentation and the founders are obsessed with skill, efficiency and speed. This gives me the confidence that Shadowfax will grow into a very valuable company.”

     

    Moreover, Shadowfax has a strategic tie-up with NSDC’s training partners to enhance skills of riders and provide customized training that focused on continuous improvement. “With our superior training infrastructure and pioneering approach towards the delivery management sector, we will make the delivery industry an aspirational avenue for the youth of the country. We have opted for a partial crowd-sourced model, where anyone who wishes to be a rider can join our rider pool. However, every rider is imparted vocational skill based training before deployment,” said Abhishek.

     

    “Our core team comprises members who have known each other well from our time at IIT-Delhi. We share an extremely strong bond from our college days, and it has translated into a strong base on which to build the organisation. We are keen on getting like-minded individuals on board who can contribute to Shadowfax’s growth,” he concluded.

  • LimeRoad raises $45 million in less than a year

    LimeRoad raises $45 million in less than a year

    MUMBAI: LimeRoad, a social-shopping platform for women, has raised a series C financing following rapid growth in community engagement, scrapbook creation and revenue growth.

     

    This two-year old company has raised total funds to the tune of $45 million in the past year and this round comes within ten months of its Series B financing. Tiger Global Management, an existing investor, leads the new round with participation from existing investors Lightspeed Venture Partners and Matrix Partners India.

     

    Over the last year, LimeRoad has been steadily nurturing a unique hyperactive community that takes products from thousands of sellers from across the country and shows users how to transform even the most basic white t-shirt into a style statement.

     

    The community posted more than 1.5 million style statements as “scrapbooks” last month alone, with per day postings reaching 100,000+, achieving 100x growth in less than a year.

     

    “It’s transformational,” said a graphic design student in Delhi Komal, who has made 800 scrapbooks. She added, “Scrapbooking on LimeRoad makes me feel ultra stylish.  It’s a daily routine that is a release after a hard day.”

     

    A homemaker in Jharkhand, Jhanvi, who has created 2000+scrapbooks, stated, “I feel like I am getting out of my town.  It has helped me personally develop, changed my sense of style.  I purchase my looks for myself and love it.  Now I try so many new things.”

     

    LimeRoad’s machine algorithms rank order and display the highest quality scrapbooks for millions of users to find the trendiest products and styles.

    LimeRoad was founded by Suchi Mukherjee, Prashant Malik and Ankush Mehra, who collectively have previously held leadership roles at eBay, Skype, Facebook, Samsung and Reliance Hypermarkets.

     

    LimeRoad founder and CEO Suchi Mukherjee said, “We are revolutionizing the way lifestyle products are discovered and ultimately bought in India, and in doing so, we are changing social order. Smaller unique sellers from across the country are getting discovered, women from across the country are using scrapbooks as a medium of style expression, and millions of users are getting access to highly affordable and unique style.”

     

    “We grew GMV 600 per cent in the last 12 months, thanks to our passionate users who visited our app on average more than 38 times in the last six months. That’s a delightful 76 times a year! As a result 80-85 per cent of our orders come from organic traffic.”

     

    Tiger Global partner Lee Fixel said, “The uniqueness of LimeRoad lies in the passionate user base and the mission of providing an engaging platform for smaller brands to thrive.  We love this approach and are investing behind it and behind the team executing the strategy.”

     

    Lightspeed Advisory Services India managing director Bejul Somaia added, “We continue to be highly supportive of LimeRoad. This is a truly exceptional team that has already disproved many accepted notions in Indian online commerce as a result of which they are showing extraordinary organic traction.”

     

    Matrix India managing director Avnish Bajaj said, “The LimeRoad team is a unique combination of a crystal clear vision combined with sheer execution prowess.  We continue to be amazed by their sheer passion, sharp thinking and their core engagement metrics.”