Swirl Secures $1.1 million in Seed Round Funding Led by Shastra VC
A video commerce startup, Swirl founded by Kaizad Hansotia and Bheshaj Joshi in 2021 has raised $1.1 million in a seed funding round led by Shastra VC (formerly Veda VC). Previously, the founders saw a potential gap in the e-commerce industry, where a staggering 98% of visitors to e-commerce sites left without making a purchase.
Swirl endeavored to enhance the online shopping experience by recognizing live commerce as the pivotal juncture between the digital and physical realms of shopping. The objective was to introduce the human touch to online shopping.
As per the official statement released by the company, the investment will play a pivotal role in bolstering the organization's product offerings. The primary focus will be on the seamless integration of deep AI technology to extract contextual insights from videos.
Apart from, Shastra VC, The funding round also saw participation from a diverse group of angel investors,namely Aakrit Vaish (CEO Haptik), Shan Krishnasamy (Ex-CTO Freshworks), Mohammed Dewji (CEO MeTL), Naim Siddiqui (CEO Momentum), Anil Goteti (Ex-SVP Flipkart), Jiten Patri (Ex-CMO Future Group), Arun Prabhudesai (TrakinTech), Neha Kulwal (MD Mitgo), Ratan Ingu (CEO Uncode), Paresh Chaudhry (Ex-CEO Madison), Rajesh Janey (Founder, Scalorg), Shammi Moza (Ex-Flipkart), Amit Sharma (Executive Director - NextGen Intl. DMCC), Prashant Rathi (Co-Founder at PhotonFin), Sharmil Shah (CTO of Delivery Solutions), Angelo Anthony (MD, Standard Chartered Bank), Zulfikar Chandoo (Founder at ZC Capital Advisory), Vaibhav Kothari (Founder OMVAI), Shah Faisal (Head of Corporate Banking at BOK International Bank), Rustom Mody (Sr. Vice President at Sun Pharma), Apoorv Sharma (Senior Staff Machine Learning Engineer - Uber) and others.
In opinion of the founder &CEO Kaizad Hansotia, Swirl uses AI to transform video commerce. It analyzes video context metadata and employs large language models (LLMs) to deliver a personalized shopping experience. This boosts sales and enhances SEO through organic traffic.
He added that, Swirl will leverage video context metadata to train a 24/7 chatbot within the video, offering instant product recommendations and enticing users with add-ons and bundle offers.
Partner at Shastra VC, Venus Dhuria stated, “Swirl taps into the trillion-dollar global video commerce market with a unique approach to building a global leader in enterprise and SaaS from India. Their differentiated product, frugal mindset, and relentless focus on business fundamentals positions them well for scaling up across global markets."
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Swirl endeavored to enhance the online shopping experience by recognizing live commerce as the pivotal juncture between the digital and physical realms of shopping. The objective was to introduce the human touch to online shopping.
As per the official statement released by the company, the investment will play a pivotal role in bolstering the organization's product offerings. The primary focus will be on the seamless integration of deep AI technology to extract contextual insights from videos.
Apart from, Shastra VC, The funding round also saw participation from a diverse group of angel investors,namely Aakrit Vaish (CEO Haptik), Shan Krishnasamy (Ex-CTO Freshworks), Mohammed Dewji (CEO MeTL), Naim Siddiqui (CEO Momentum), Anil Goteti (Ex-SVP Flipkart), Jiten Patri (Ex-CMO Future Group), Arun Prabhudesai (TrakinTech), Neha Kulwal (MD Mitgo), Ratan Ingu (CEO Uncode), Paresh Chaudhry (Ex-CEO Madison), Rajesh Janey (Founder, Scalorg), Shammi Moza (Ex-Flipkart), Amit Sharma (Executive Director - NextGen Intl. DMCC), Prashant Rathi (Co-Founder at PhotonFin), Sharmil Shah (CTO of Delivery Solutions), Angelo Anthony (MD, Standard Chartered Bank), Zulfikar Chandoo (Founder at ZC Capital Advisory), Vaibhav Kothari (Founder OMVAI), Shah Faisal (Head of Corporate Banking at BOK International Bank), Rustom Mody (Sr. Vice President at Sun Pharma), Apoorv Sharma (Senior Staff Machine Learning Engineer - Uber) and others.
In opinion of the founder &CEO Kaizad Hansotia, Swirl uses AI to transform video commerce. It analyzes video context metadata and employs large language models (LLMs) to deliver a personalized shopping experience. This boosts sales and enhances SEO through organic traffic.
He added that, Swirl will leverage video context metadata to train a 24/7 chatbot within the video, offering instant product recommendations and enticing users with add-ons and bundle offers.
Partner at Shastra VC, Venus Dhuria stated, “Swirl taps into the trillion-dollar global video commerce market with a unique approach to building a global leader in enterprise and SaaS from India. Their differentiated product, frugal mindset, and relentless focus on business fundamentals positions them well for scaling up across global markets."
