Seed investment and innovation platform Venture Catalysts (VCats) has announced a seed investment of $250,000 into Don’t Scratch Your Head (DSYH). The start-up has been accelerated at Reliance Industries Ltd (RIL)’s GenNext Hub.
DSYH is a software-as-a-service (SaaS)-based logistics reconciliation platform for e-commerce channels. The $250,000 fresh investment is led by Gaurav Singhvi, managing partner, VCats Surat, and Mumbai-based Zaffiro Ventures.
Ahmedabad-based DSYH is a next-generation data analytics SaaS start-up in the reconciliation space across multiple sectors, currently focusing on the e-commerce sector. The company allows sellers associated with multiple marketplaces to reconcile accounts, payments, returned orders, promotional amounts through a single window.
Since the launch of its operations, the company has reconciled about 500,000 orders, with gross merchandise value (GMV) of $7 million through its platform. It identified between five and seven per cent of GMV as avoidable reclaimable charges per user.
Apoorv Ranjan Sharma, co-founder, VCats, said:
DSYH, with its innovative SaaS-based platform, has been developing the first-of-its-kind technology to identify and address the real-time logistics reconciliation challenges of Indian e-commerce sellers. Moreover, with an energetic, enthusiastic and experienced team at the helm of its operations, the venture is well poised to create a huge market impact with its product.
VCats has so far enabled nine investments worth $1.5 million in start-ups such as vPhrase Analytics, Vahanalytics, Siftr and ConfirmTKT since the launch of its operations in 2015. It invests $100,000-$250,000 in very early stage start-ups having a growth potential.