Bengaluru-based startup ofScale has successfully secured $375,000 in a pre-seed funding round, with First Cheque leading the investment along with participation from Matrix Partners India, DeVC, Relentless VC, and notable angel investors like Abhishek Goyal, Mekin Maheshwari, and Revant Bhate. The newly acquired funds are earmarked for intensifying product development efforts and implementing strategic go-to-market initiatives, according to a press release from ofScale.
Established in 2022 by Suvigna Shour, Tarun Kedia, and Vijay Akkaladevi, ofScale operates on a technology-driven business-to-business model, effectively reducing distribution costs in comparison to conventional offline expansion methods. The startup primarily facilitates beauty and personal care brands in establishing a cost-effective offline presence before expanding its services to other sectors.
ofScale’s marketplace empowers brands to lease retail shelves in independent stores, streamlining entry into offline markets. By harnessing technology, ofScale democratizes distribution, minimizing barriers for seamless large-scale adoption. The company asserts partnerships with prominent direct-to-consumer brands in the beauty and personal care domain, including Bodywise, Deconstruct, Arata, Paradyes, Wishcare, and Hair Originals. Over the past year, more than 15 rapidly growing beauty and personal care brands have initiated offline retail journeys through ofScale.
That’s awesome news about ofScale securing $375K in pre-seed funding! It’s great to see startups like ofScale using technology to revolutionize offline expansion in the beauty and personal care industry. I’m excited to see how they continue to grow and support more brands!
~ Dr Shishir said Gupta founder & CEO of StartupLanes
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