Bengaluru. January 16th, 2019: Matrix Partners India announced today that it has invested in Zoomtail Technologies, an omnichannel commerce platform for fashion SMEs. The round also saw participation from other investors V1 Capital, Anshuman Bapna, Kunal Shah and Shamik Sharma.
Small retailers across the country are adopting technology at a rapid pace to grow their businesses and keep pace with digital-savvy users. The company provides a chat based platform for small fashion retailers to discover the latest fashion trends, purchase inventory and create an omni-channel experience for the retailers. This infusion of capital will be used to expand the team and build a technology platform for retailers, manufacturers and SME’s to trade and expand their customer base and network reach.
Commenting on the fundraise, Varun Jain and Swedesh Srivastava, Co-Founders at Zoomtail, said “Our vision is to enable fashion SMEs, and people working in them, by giving them easy to use tools to be more effective and expand their business. Matrix is a great partner on our journey with their experience in retail and SME technology platforms.”
“We believe that India’s retailers can play an integral role in serving consumers the right fashion selection at the right cost-to-serve including logistics and returns. Zoomtail’s approach to provide retailers sales tools leveraging existing social media platforms is differentiated and we’re privileged to partner with Varun and Swedesh on this journey.” said Rajinder Balaraman, Director, Matrix India.
About the Founders:
ZoomTail was co-founded by Varun Jain and Swedesh Srivastava, both of whom have rich sector experience across companies. Varun started his career at the Boston Consulting Group, was a fintech entrepreneur and then a Lead Product Manager at Myntra. Swedesh is a technologist, who led product and supply chain development at Apple, Lam Research and Intel; and most recently headed supply chain automation at Flipkart.
About Zoomtail Technologies Pvt. Ltd.:
Zoomtail was founded in 2018 and is building an omnichannel commerce platform for fashion SMEs. The team consists of alumni from Stanford, IIT, Minnesota, BITS, etc having several years of experience in companies like Flipkart, Myntra, Apple and BCG. They have operations in multiple states and are expanding rapidly. More information can be found at www.zoomtail.com
About Matrix Partners India:
Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Limeroad (social e-commerce platform), Treebo (digital hotel chain), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Razorpay (payments), and ZipLoan (small business lending) among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India. Further information is available at www.matrixpartners.in