New-Delhi based Swageazy raised Rs 7 crore in a funding round led by Info Edge Ventures. The investment round also saw participation from other investors including Anicut Capital, Huddle Ventures, Ankur Agarwal, Dhruv Toshniwal and Kartik Mandaville.
Swageazy will utilise the capital to hire experienced staff and develop products in addition to spending on customer acquisition.
“Our goal is to bring the efficiency and scale of the digital era to the age-old channel of offline gifting. It will integrate with current marketing, sales, and HR management applications and enable users to automate gifting based on milestones. We also intend to use data to estimate the return on investment for these gifting initiatives,” said Sameer Wahine, founder and CEO of Swageazy.
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“The latest round of funding will enable us to accelerate our product development and improve our go-to-market (GTM) strategy to add significant value for our clients,” said Sameer Wahie, founder and CEO, of Swageazy,” he further added.
On the other hand, Rishabh Katiyar, principal at Info Edge Ventures added, “Anyone who has ordered swag or gifts for their employees, customers, prospects, or key stakeholders knows how broken and inefficient the entire process is. Swageazy offers comprehensive end-to-end gifting platforms with a marketplace of curated vendors. In a short period, Swageazy has become a trusted partner to enterprises like Amazon, Linkedin, Coursera, Chargebee and Pidilite, among others.”
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Info Edge Ventures has invested in multiple Indian start-ups including Lumiq, Adda247, Ustraa, Broker Network and Tractor Junction. In October, the company acquired a majority stake in the coding platform Ninjas by investing $17 million.
According to a Business Standard report, Info Edge Ventures reported a 47 per cent increase in revenues in the September quarter of 2022.
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