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Beauty and wellness marketplace Stylofie gets $250K in seed funding

By Binu Paul

  • 23 Nov 2015
Beauty and wellness marketplace Stylofie gets $250K in seed funding

Gurgaon-based beauty and wellness startup Stylofie.com, operated by Soulmo Solutions Pvt Ltd, has raised $250,000 (about Rs 1.65 crore) in seed funding from Hong Kong-based Swastika Company Ltd.

Stylofie will use the funds to strengthen its technology infrastructure and expand its services to Delhi, it said in a statement.

With its website and mobile app, Stylofie provides a platform to consumers to discover and compare salons and spas, check reviews, and make bookings and payments.

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The company was founded by Prateek Agarwal and Saurav Dey three months ago. Agarwal, a chartered accountant, has previously worked with Videocon, CSG, Bharti Airtel and Ranbaxy. He is also a board advisor on Telecom Oman. Dey worked with Genpact, Accenture Technology Solutions and Ingersoll-Rand before launching Stylofie.

The startup claims to have about 100 premium salon/spa outlets listed on its platform.

 â€œStylofie has two things going for them – a great team of seasoned professionals at the helm and a monetization plan. They have started generating revenues from day one and have very healthy unit economics,” said Vaibhav Jain, director at Swastika.

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India’s beauty and wellness industry has seen a lot of investor action lately. A PricewaterhouseCoopers report estimates the sector to be worth Rs 1 lakh crore this year. Several online players that facilitate listings, discovery and booking of wellness services have raised external capital.

Bangalore-based Vyomo Pte Ltd, which runs a beauty and wellness platform, had raised an undisclosed amount in seed funding led by TaxiForSure co-founder Aprameya Radhakrishna in June.

In January, Mumbai-based Manash Lifestyle Pvt Ltd, the company behind Purplle.com, secured an undisclosed amount in Series A funding from early-to-growth-stage VC firm IvyCap Ventures.

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Mumbai-based DocSuggest Healthcare Services Pvt Ltd, the company behind Ziffi.com, an online booking platform for beauty salons, doctors and health tests, is in advanced stage of talks for Series B funding.

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