VentureNursery, India’s first angel-backed start-up accelerator has announced an investment in Mumbai-based consumer internet company Smursh Ecommerce, the owners of Klip.in.
Klip.in helps users discover unique and interesting lifestyle products across the web by aggregating and curating them based on their social connections and interest graph.
Klip.in covers over 5000 products curated from over 100 sites and has a user base of nearly a thousand members.
Smursh Ecommerce Pvt. Ltd. was founded in 2011 by college friends Harsh Gadia and Maneesh Madambath. The duo, have been running a media agency, Smursh Media, for the past five years. With KLIP, they intend to bring their experience and insights in managing online brands and communities into the consumer internet space.
KLIP is a Season-2 graduate of VentureNursery’s acceleration program that concluded in April 2013.
“Social media tools such as DIGG that organize content and help users discover them have been growing for the last few years. We now see a similar opportunity in e-Commerce, especially in the fashion and lifestyle product space,” Harsh Gadia said. “With 1000 plus e-Commerce sites and millions of products being sold online, product discovery is a huge challenge that needs to be addressed.”
The funds will be used to build technical resources for product features and building initial user base.
Mr Shravan Shroff, Co-founder, VentureNursery said, “Our Angels saw the team, their strong digital and entrepreneurial background being critical elements for building a business out of this opportunity. Additionally, VentureNursery Angels were struck by the exceptional business building capability of founding team of KLIP. ”
The curation and social foundations of KLIP make it a very exciting opportunity. KLIP applies social media tool to better serve the e-shoppers, thus organising the e-Commerce business.