CoutLoot, the country’s most favourite fashion e-commerce platform has created and launched a revolutionary AI and Image Recognition-based selling module on its app called Firesell. The intelligent addition will enable its user to list any product on the platform within a few seconds without typing anything at all.
Backed by Facebook and a part of the investment portfolio of Venture Catalysts, India’s top integrated incubator platform, CoutLoot has been quite popular among young millennials as the go-to for buying & selling an app. The new feature intends to further amplify its services for them.
The Firesell module enables the seller to click and upload the picture of the desired product on CoutLoot. The algorithm automatically scans the product and gives out an accurate title to the product, capturing the brand as well, if visible. It’s like magic, listing an item!
Backed by Venture Catalyst since its early days, CoutLoot’s growth in the C2Ccategory has been unparalleled since its inception. From a selling-only platform operating in Mumbai, CoutLoot has extended its operations across 32 cities and achieved more than 700,000+ app downloads.
One of its unique features-‘Celebrity Closet’-which allows users to purchase items from the personal closets of celebrities having an exclusive partnership with CoutLoot, has also been at the forefront of receiving an overwhelming response from its users.
The platform’s strong existing investor profile is also encouraging others from the investor community to associate with the Indian e-commerce vertical to help create larger opportunities in the future. In fact, CoutLoot has recently raised a $1M round from Chinese giant CashBUS’s investment arm Jadevalue Fintech and is preparing to enter other relevant categories for P2P transactions in the months to follow.
The growth of Indian start-ups following such models has significantly contributed to India’s fast emergence as a global investment hotspot, and the focus of global investment giants towards successful Indian start-ups, such as CoutLoot, will contribute significantly to enhance the inflow of global resources, technology, ideas and skills towards the strengthening of India’s flourishing start-up ecosphere.