Stylofie, a Gurgaon-based online beauty and wellness service marketplace, has raised $250,000 in seed funding from Hong Kong based Swastika. The newly infused capital will be used by the company to enhance its technology and expand its operations to Delhi.
Currently, the company is operating in Gurgaon only and has more than 100 premium spas and salons listed on its portal. The company claims to be growing at 100% on month-to-month basis.
Founded in August this year by Prateek Agarwal and Saurav Dey, Stylofie provides a technology platform for discovery, comparison, reviews, payment and booking website, and mobile app for consumers.
It helps customers to pick the beauty treatment of their choice, select their location and the salon they want to visit, choose a date and time according to their convenience, and book the services as per their needs.
There are several startups in this space. So, to differentiate itself from others and grab the pole position at an early stage, the company has hired key people from well known beauty and wellness brands to build a credible team across Supplier Enablement, Customer Delight & Software Development.
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.
Vaibhav Jain, Director of Swastika Co. Ltd. and an investor in Stylofie, 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 beauty and wellness industry in India is currently close to $5 billion and it’s growing. However, it is still in a very early stage and is yet to grow.
In this space, Stylofie will compete against the likes of Vyomo which has raised funding from Rocket Internet and Yuvraj Singh’s YouWeCan Ventures. It will also face competition from Ziffy, Appointly, Purplle, etc.
