Fashion based social media mobile application LookAtMe has raised an undisclosed amount in Seed funding round from Eros Labs.
The startup plans to infuse raised funds in the team, technology, and growth.
CEO of Eros Labs, Karan Bedi said, “The team has achieved tremendous results in a quick time and we are happy to support them as investors.”
Founded by an ex-Paytm executive, Nakul Kapur in June 2016, LookAtMe is a virtual stylist that helps users to shop better. Users can get professional stylists and community members to rate their looks, get advice on what to wear, and even shop for looks directly from the app.
One can post a ‘look’ on the app and can get instant ratings. Also, a user earns points for every look uploaded and every rating look received from others. The user is awarded with badges, as he climbs the ‘Look At Me’ ladder.
The founder cIaims the app to have crossed over 50K+ downloads across Android and iOS platforms.
“We are ‘bottom up’ or personalised. Clothes look very different on different people. What looks good on celebrities, may not look good on a vast majority of normal people. Our platform allows users to get advice on what will look good on them. We intend to leverage the infrastructure built by the big ecommerce players and run as an affiliate to them,” said founder Nakul Kapoor.
By 2020, India is expected to generate a $100 Bn online retail revenue, of which $35 Bn will come from fashion ecommerce. Every third query on Google is related to fashion and this trend is increasing at 65% annually.
Earlier, fashion discovery social commerce app Shopwati raised Seed funding from Sanjiv Rai of SRKK Advisors. Wooplr raised an undisclosed amount of funding from the co-founders of InMobi, and WithMe raised $250K funding from angel investors.
Other similar startups in this space are LimeRoad, Styledotme, Mydressing, The Women Store and more.