StartupXseed Ventures Invests USD 1.3 M In Optiwise


Optiwise, an artificial intelligence-powered digital marketing startup, announced on Tuesday that it has raised $1.3 million (approximately Rs 10.4 crore) in a seed funding round led by venture capital firm StartupXseed Ventures.

The Newark and Noida-based company will use the additional funds to further invest in product, scale up its team, and expand its footprint from North America to other e-commerce regions around the world.

Optiwise, founded in March of this year by former IITians Deepak Goyal and Rahul Shah, is a platform comprised of e-commerce specialists, data scientists, statistical geeks, strategists, and programmers that assists brands and retailers in scaling their e-commerce business across multiple marketplaces.

Optiwise has onboarded hundreds of marketplace sellers since its inception, and the majority of them have seen a more than three-fold increase in traffic, a 46 per cent increase in conversion, and a two-fold increase in revenue, according to a statement.

StartupXseed was founded in 2015 by BV Naidu, former director of Software Technology Parks of India, Mohandas Pai, Ravi Thakur, and Ramakrishna V. It invests in seed and pre-Series A rounds. VCCircle reported last month that the firm had completed the final close of its second fund at Rs 243 crore, with a 20% oversubscription.

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