Founded in 2020, SpotKwik is building an AR Commerce for the Indian millennials and Gen Z by leveraging the power of community. The company aims to bridge the gap between offline and online shopping experiences with the help of deep tech solutions and community based feedback. It has raised a pre-seed from Silicon Valley Accelerator - MARL 5G recently. The early funds help them strengthen their AR innovation, seller partnerships and growth marketing activities, says the company.
On speaking to us, Mithun Adith, Founder and CEO of SpotKwik says ‘The next frontier of commerce is ‘Experience’ and the place where it starts is from the ‘Camera’. Consumers these days want more than 2D product shots. They expect a rich experience before making a purchase decision and Augmented Reality provides that. SpotKwik’s advancements in AR, Computer Vision and AI, brings the trial room to the mobile cameras and helps consumers find the size, fit and look of the products.’ He adds, ‘We are not just an AR Shopping App. We are focusing into an untapped market where we have the ability to build second-order business. We mimic the offline shopping experience online by providing trial room experience via AR and instant feedback via friends, family and social community. We tend to create a new category ‘Experience-Community Shopping’ that solves the major problems the current e-commerce ecosystem is facing- lack of trust and lack of experience’ Apart from early funds from the valley, the company has several other industry recognitions. They have been incubated at NASSCOM 10000 Startups in July 2020 and recognised in the list of ‘Super30 Startups 2020’ by TimesNext. With aggressive growth plans ahead, it envisions to empower the next billion Indians shop with trust and enable the 40Mn SMEs to adopt Digital Commerce.
“We are working on a AI model to automate the onboarding process of sellers which would ease the inventory creation and management for many sellers from tier II and tier III Indian cities. We are in advanced talks with Elevation Capital, Matrix Partners and other VC firms in the Silicon Valley for our Seed round and planning to deploy the upcoming fresh capital to scale the partnerships with local SMEs across India.’ says, the co-founder and COO, Anusha Sundarkumar.