Gurgaon-based beauty and wellness services marketplace startup, Stylofie, has raised $250K in seed round of funding from Hongkong-based company Swastika.
The new round of funding will help the startup to strengthen its technology stack and expand to Delhi.
Stylofie was founded by MDI Gurgaon graduates, Prateek Agarwal and Saurav Dey, in August this year. The startup is an online marketplace through which consumers can discover salons/spas near them, read up reviews and ratings of services, compare prices and avail discounts for booking through the app/site. It allows customers to choose location and time of visit as per their convenience coupled with discounts.
Presently Stylofie is operational in Gurgaon and has more than 100 premium salon/spa outlets listed on its platform with over 100% growth month-on-month basis.
Related Article: Stylofie Acquires App-Based Beauty & Wellness Marketplace Hyve
Balaji Srinivasan, CTO at Stylofie said, “Stylofie is among the few start-ups which launched its website and mobile app (including android & ios) together. We are applying Lean Startup principles for development, allowing us to be very agile and responsive to consumer needs.”
The beauty and wellness industry in India is currently close to $5 Bn, with services contributing to INR 200 Bn.
Stylofie differentiates itself by hiring industry/domain experts in their teams for various positions. The startup has hired key people from well known beauty and wellness brands to build a credible team of around 10 people across supplier enablement, customer delight & software development.
Vaibhav Jain, Investor in Stylofie and Director of Swastika Co Ltd, said, “Stylofie has got two things going for them – a great team of seasoned professionals at the helm, and a monetization plan. They have started generating revenues from day one and have very healthy unit economics. I am also impressed with their repeat customer base, which is terrific sign of the value proposition Stylofie is offering.”
The other players in the same domain are Vyomo that recently raised seed funding from Yuvraj Singh’s YouWeCan, Stayglad that raised an undisclosed amount in angel round of funding from Tracxn Labs and few others. Also, BigStylist.com secured $1 Mn in pre-Series A round from Info Edge earlier this month.
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