Shopholix, India's first fashion and lifestyle couponing platform for brick and mortar stores has raised an impressive sum of Rs 1.5 crore in Pre-Series A round of funding led by veteran investor Munesh Khanna. Shopholix will utilise the funds to enhance the product, strengthen its partner network, and organise overall operations by March 2018.
Founded by Hemant Upadhyay, Abhinav Midha, and Chinmay Bhatt, Shopholix is a location based mobile app and web interface that enables shoppers to locate, explore and plan their shopping trips. The company offers offline retailers a unique opportunity to interact with digital shoppers, and leverage the incoming traffic of users on the platform through coupon redemptions, digital payments, and point of sale systems.
Moreover, the platform seamlessly integrates with any brand's retail CRM to help bring existing customers on board to the Shopholix platform, thus enabling them to experience the next level of retail shopping. Shopholix lets shoppers to discover deals and discounts from around 2,000 local stores, and redeem mCoupons at the retail outlets of popular fashion and lifestyle brands, all on the platform. It has also operations live in Mumbai. The company plans to bring on board 10 lakh total users, and achieve profitability with a valuation of Rs. 100 crores by 2022.
However, it plans to expand its presence across Indian metros and Tier-1 cities, along with major global shopping destinations such as Dubai, Bangkok, Abu Dhabi, Singapore, and Hong Kong.
