Mumbai based startup Paintcollar has raised an undisclosed amount of funding from Angel investor Santosh Shetty , Co-founder of Neev Technologies, and Apurva Agarwal, Founder of Universal Legal.
The firm has a creation Engine that allows the partner artist to upload their creations say T-shirt or Phone case. With this Artist sets his profit margin which is added up with the price and is posted on portal.
As of now platform boasts of having 3000 artist, with 10 lakh SKUs available for sale.
This platform is based on ‘Just-in-time’ model which largely reduces the inventory cost, which means the firm starts manufacturing the order only after they receive it.
The platform is currently works pan-India but they are going to expand it to other geographies as well.
The firm is also looking to build their tech product while adding community experience feature, which drives consumer engagement and acts as a brand building platform for artists. The firm is also looking to invest some part of the funding for artist acquisition taking the count to 15,000 by the end of the year. They also plan to enter into new product kinds, expanding that to 10 new product types by the end of this year. As of now, the platform sells five different kinds of products on the platform.
Great effort by the youngsters we really appreciate their good and hard work.