Mumbai: Private equity fund Quarizon on on Thursday said it had invested Rs1 crore in early-stage funding of Pictor Imaging Pvt. Ltd, a product photography start-up.
Pictor will use the funds for strengthening its technology, team size and for business development.
“Product photography is a multi-billion-dollar industry as every e-commerce website has to go through the process of updating its catalog seasonally... Being a skill based endeavor, there is very little standardization and absolutely no standard pricing,” Quarizon said in a statement.
“In this fast moving digital world, sales for every online marketplace is won or lost on the strength of its imagery. Poor quality photography that doesn’t show products in their best light is one of the most common reasons for customer desertion” added Rajiv Semwal, lead investor at Quarizon.
Founded in November 2015 by Neelesh Soni, Siddharth Chilukuri, Gaurav Raj and Akshay Sathaye, Pictor is a mobile app that enables e-commerce companies to capture product images and get the images edited by a team of graphic artists.
Pictor claims to have completed pilots with the e-commerce companies in India. The app has paying users from Belgium, US, and Egypt apart from users in several cities in India. It has also started to work with the instant delivery team of Amazon Now, the grocery delivery app of Amazon India, that will help increase Amazon’s inventory rapidly.
Founded this year, Quarizon is an early-stage, Delhi-based fund, interested in funding start-ups in segments such as education technology, information technology and Internet of things, among others, according to the fund’s website.
Pictor is Quarizon’s second investment. Its first investment was in BeatRoute Innovations, a mobile app platform.