Mumbai: Mumbai-based seed investment platform Venture Catalysts (VCats) has invested $250,000 in Recconext Labs Pvt. Ltd, a software-as-a-service (SaaS) solutions company that operates Don’t Scratch Your Head (DSYH).
The Ahmedabad-based DSYH founded in 2015 by Suraj Vazirani, Harsh Vagdoda and Sumit Karanji is looking to use the funds for upgrading the technological infrastructure and expanding its customer support team.
“DSYH is creating strong data analytics tools that can solve all the reconciliation woes of the Indian e-commerce seller. Since reconciliation can directly impact the profit margins of sellers on e-commerce platforms, providing such an innovative problem-solving solution will definitely add great value to the entire e-commerce ecosystem,” said Gaurav Singhvi, managing partner, VCats in a statement.
DSYH provides enterprise resource planning solutions which allows sellers associated with multiple marketplaces to reconcile accounts, payments, returned orders, promotional amounts through a single, consolidated window. DSYH claims to have reconciled more than 500,000 orders with gross merchandise value of $7 million through its platform, identifying 5-7% of GMV as avoidable reclaimable charges per user.
Venture Catalysts that raised $500,000 from Zaffiro Ventures in June, invests $100,000-250,000 in very early stage startups. In the last six months, it has invested in 9 companies, and is looking to add more in sectors like Internet of Things, artificial intelligence, ad tech, virtual reality, education, e-commerce and retail.