100X.VC portfolio company Wizzy, an advanced site search solution for e-commerce stores and marketplaces, has raised nearly US $ 300,000 in a funding round from Manipal Technology & Media Group, Concept India, Quattro Ventures, Sat Industries (BSE: SATINDLTD), Colte Patil (BSE: 532924 | NSE: KOLTEPATIL).
Other investors who participated in the round include top angels like Jio Fund head Amey Marshelkar, Times Network VP Jignesh Kenai, Serial Investor Sanjeev Shah, Indian Hotels VP Giridhar Sanjeevi, Strategy Head Amogh Agashe, Anlage CEO Umesh Chhazzed, Capgemini Senior Manager Umang Shah, Google Marketing Head Jaydeep Deshpande and other marquee angel investors.
The company said it will use the funds to evolve the product, amplify its reach to store and marketplace owners around the world, and make product discovery and shopping a seamless experience driven by the most advanced site search technology.
Aenik Shah, CEO at Wizzy.ai said, “Being part of 100X.VC was an exhilarating experience, and we are so proud and honored to have convinced our esteemed investors in our vision and to have raised the money to scale and achieve our ambition with Wizzy.”
“We believe that raising funds with our investors gives us greater confidence in taking our product to e commerce stores and marketplaces around the world. This is just another step towards building a great product and a company that is loved and valued by our customers and our investors equally, “said fellow CTO Alok Patel.
Talking about Wizzy, Ninad Karpe, Partner, 100X.VC said, “Wizzy is at the right stage with the right product to disrupt the worldwide e-commerce market and is poised to capture a significant market share. I believe that the team and product is on track to onboard more than 50,000 e commerce stores by 2025 and impact millions of dollars worth of purchases that happen online. ”
Investing in Wizzy, Amogh Agashe, Strategy Head said, “I like the passion and focus that the founders have to give best-in-class product discovery technology to SME e-commerce stores worldwide. Also he believes the e-commerce trend in India has just started and Wizzy can be the market leader as D2C enabler for Smart Search and Product Recommendation. ”
Founded in 2021, Wizzy is the brainchild of Aenik Shah and Alok Patel — two passionate, motivated problem solvers with a strong tech background, who hail from the entrepreneurial spirit of Ahmedabad.
Wizzy was created to help solve a major problem for e-commerce stores — making product discovery easy and seamless for shoppers, just like the most popular marketplace apps. It was designed to boost visit-to-sales conversion organically as well.
Wizzy engineered their solution with a four-pronged approach:
- Technology: A smart, advanced, visual search and filter built on AI and ML that can be implemented on any e-commerce store built on any platform — even on hand-coded e commerce websites.
- Smart merchandising: Use this technology to allow a store’s site search to automatically sync with the product catalog that eventually enables automated smart merchandising. 3. Product discovery: Transform site search into a fast, accurate, NLU-based search experience that changes the way shoppers (we) discover and buy products. 4. Real-time insights: And finally, Wizzy’s analytics engine constantly monitors search behavior and curates data points in real time that can be used to optimize products and product pages to influence visitor behavior.
Wizzy’s vision is to help every e-commerce store and marketplace up its site search game and boost sales and revenue organically.