Venture Catalysts, India's first seed investment and innovation platform, has facilitated a seed investment into CoutLoot, an end-to-end fashion reselling service.
CoutLoot will be utilizing the funds secured through VCats for geographical expansion and launch of new product categories, and will be additionally strengthening its technological framework.
Founded by Mahima Kaul, Sahil Khimavat, Vinit Jain and Jasmeet Thind, CoutLoot is a one-stop solution to de-clutter one's closet for cash. While sellers get paid for selling off unused branded and boutique fashion items from their closet, buyers get to avail products from the best brands in a nearly-mint condition at up to 80 percent off.
CoutLoot has seen sales of 2,000 items since inception, has an inventory of 6,000 clothes, and sees about 300-400 listings on the platform daily
Speaking on the investment, Dr. Apoorv Ranjan Sharma, Co-founder, Venture Catalysts, said, "Pre owned clothes have a huge market opportunity to be tapped on account of India's burgeoning youth population. The CoutLoot team is a very dynamic team, with a strong focus on business economics, which is what attracted our attention."
By taking care of everything from curating a product, checking its authenticity and quality to packaging and delivering it to the buyer, CoutLoot lets sellers sell their products at the touch of a button.
The one-of-its-kind service is currently available for sellers located in Mumbai, Delhi/NCR, Pune, Chandigarh, Chennai, Hyderabad, Kolkata and Bangalore, and delivers to buyers all over India.
Venture Catalysts has been building a comprehensive, end-to-end ecosystem to support and nurture tech-centric start-ups in the country using its extensive angel network and auxiliary support infrastructure. The platform has previous enabled early-stage investments into promising ventures such as Vahanalytics, vPhrase Analytics, Siftr, ConfirmTKT and LenDenClub.