Swirl Raises $1.1 Million in Seed Funding
- ByStartupStory | February 8, 2024
Video commerce company Swirl has successfully secured $1.1 million in a seed funding round led by Shastra VC (formerly Veda VC) and various angel investors from India, the Middle East, and the USA. Notable angel investors include Haptik CEO Aakrit Vaish, ex-CTO of Freshworks Shan Krishnasamy, MeTL CEO Mohammed Dewji, Momentum CEO Naim Siddiqui, ex-SVP of Flipkart Anil Goteti, ex-CMO of Future Group Jiten Patri, TrakinTech’s Arun Prabhudesai, Mitgo MD Neha Kulwal, Uncode CEO Ratan Ingu, ex-CEO of Madison Paresh Chaudhry, and others.
Kaizad Hansotia, founder CEO of Swirl, commented, “With the funding, we plan to enter the $100+ billion US and UAE market while strengthening our product suite.” The funds will be utilized to meet global demand and bolster its go-to-market and product teams, with a focus on North America and the Middle East. Swirl’s clients across consumer categories such as D2C, retail, auto, and fintech include Puma, VIVO, TVS, LG, etc. The company reportedly helps brands increase their e-commerce conversions by 3X, with an average 13X ROI.
Bheshaj Joshi, co-founder CTO of Swirl, stated, “98% of visitors on any e-commerce website or app don’t convert, and we are here to fix that. By harnessing the power of AI using video context metadata and LLM, Swirl will be able to drive quantifiable sales uplift, creating a seamless and personalized customer experience that is 10X better than what a user sees today.”
Swirl has recently partnered with the US-based reviews and ratings company Cohley. The brand is now building deep AI integration to systematically extract contextual insights from videos. It also plans to use the video context metadata to train a large language model (LLM) based chatbot, which can be accessed by the viewers from the video itself.
Follow Startup Story
Related Posts
