Mumbai, May 21: Red Polka, a curation-led podium which showcases brands, designers, their trendsetting products, and the unique stories behind them, has closed its first round of angel funding from a clutch of investors.
Red Polka, a Mumbai-based based fast growing player in the e-comm enabling market, curates fashion and lifestyle designs catering to women aged 23+.
The funds raised will be used to launch Red Polka mobile app and for team expansion. The app is expected to hit leading app stores in 2-3 months.
Vishakha Singh, Founder and CEO, Red Polka says, "Red Polka caters to discerning shoppers with a need to discover good designs. The shopper tends to explore more and gets delighted with handpicked designs that are recommended apropos her taste."
"Red Polka curates designs in categories like clothing, fashion accessories, home décor and kids' products (up to the age of 8) and recommends them to shoppers. The curation is based on the interest graphs of the audience and is packaged with stories and tips", she says.
Red Polka operates in e-commerce enabling space, which is a relatively new segment in India.
However, their USP is curation. They not only discover and showcase designs in fashion but also curate products keeping in mind their audience profile. Since the explosive growth in the e- commerce sector, this space has been growing rapidly as they help direct traffic to e-comm and online retailers and improve conversion rates.
Vishakha Singh, Founder and CEO, Red Polka says, "More than 30% of our audience are repeat visitors and we have created that kind of pull due to our weekly themes which our users find relevant. For sellers, we provide them with a platform that helps them stay on shoppers' top of mind. And these sellers are not just e-commerce players but many small home-preneurs too."
The company is also focusing on attracting right talent to build a strong team. While Red Polka has an in-house team of curators, tech-savvy designers, content writers and relationship managers, thecompany has hired Parnil Mhatre as Chief Technology Officer.
Mr Mhatre comes with Artificial Intelligence background and setting up predictive analytics and recommendation systems is his forte. His expertise would enable Red Polka to customise their curation for Women shoppers.
Vishakha Singh, Founder and CEO, Red Polka says, "As we build the company from ground up, it is important that not only do we consistently enhance shoppers' experience on the site but also attract the right talent. Parnil's expertise would help us blend shopper behaviour and interestsbased curation."