SaaS-based startup Don’t Scratch Your Head (DSYH) has raised $250K seed funding from Mumbai-based seed investment and innovation platform, Venture Catalysts (VCats).
This round of funding was led by Gaurav Singhvi, Managing Partner – VCats Surat, and Mumbai-based Zaffiro Ventures.
Gaurav Singhvi, Managing Partner, VCats Surat, said, “DSYH is creating strong data analytics tools that can solve all the reconciliation woes of the Indian ecommerce seller. 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 ecommerce ecosystem.”
Ahmedabad-based DSYH is a SaaS-based logistics reconciliation platform for ecommerce channels. By allowing sellers associated with multiple marketplaces to reconcile accounts, payments, returned orders, promotional amounts through a single, consolidated window, DSYH has been addressing seller reconciliation. DSYH was accelerated at Reliance Industries Limited’s GenNext Hub and powered by Microsoft Accelerator India.
DSYH has a six-member team including the founders. Co-founder & CEO Suraj Vazirani has been associated with the segment since the days of eBay – when Snapdeal was still a deals-based website – and is currently the President of the All India Online Vendors Association (AIOVA). Hari Vaag, co-founder & CTO, was a core team member at Travelguru.com, and has been the CTO with Maniacstore.com since 2012. Co-founder & COO Sumit Karanji, on the other hand, has been previously associated as a business management professional with Maruti Suzuki and Bajaj Allianz, and has also founded two startups in the automotive and healthcare sector respectively.
Since the launch of its operations, DSYH has reconciled more than 500,000 orders with GMV of $7 Mn through its platform, identifying between 5%-7% of GMV as avoidable reclaimable charges per user.
The startup will use the newly raised funds to upgrade technological infrastructure and customer support team.
Earlier this month, Venture Catalysts (VCats), raised $500K from Zaffiro Ventures at a post money valuation of $6 Mn (INR 40 Cr). Venture Catalysts typically invests $100K – $250K in very early stage startups that has potential to create enduring value for over a long period of time. It has invested in over nine startups such as vPhrase Analytics, Vahanalytics, Siftr and ConfirmTKT, etc. since the launch of its operations in 2015.
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