Swirl, established in 2021 by Kaizad Hansotia and Bheshaj Joshi, stands as a pioneering video commerce platform. The genesis of Swirl stemmed from a stark observation: despite the surge in online shopping, a staggering 98% of visitors to e-commerce platforms departed without completing a purchase.
Recognizing live commerce as the conduit between the digital and physical shopping realms, Swirl aimed to imbue the online shopping experience with a human touch. Now, with a strategic focus on global expansion, Swirl has secured $1.1 million in seed funding, spearheaded by Shastra VC (formerly Veda VC). This infusion of capital will not only augment the company’s product portfolio but also prioritize deep integration of artificial intelligence (AI) to extract contextual insights from videos, in alignment with the company’s vision.
Apart from Shastra VC, the funding round witnessed participation from a diverse cohort of angel investors, including luminaries like Aakrit Vaish (CEO of Haptik), Shan Krishnasamy (Ex-CTO of Freshworks), Mohammed Dewji (CEO of MeTL), and others, reflecting a broad spectrum of industry expertise and support.
Kaizad Hansotia, founder & CEO of Swirl, emphasized the company’s commitment to harnessing AI to revolutionize video commerce. By leveraging advanced techniques such as analyzing video context metadata and employing large language models (LLMs), Swirl endeavors to curate personalized shopping experiences that not only drive sales but also enhance search engine optimization (SEO) through organic traffic.
Moreover, Swirl plans to leverage video context metadata to train a 24/7 chatbot embedded within the video interface, offering instantaneous product recommendations and enticing users with add-ons and bundle offers.
The company has forged partnerships with esteemed brands such as Puma, VIVO, and Arvind Brands, underscoring its commitment to delivering premium experiences and fostering mutually beneficial collaborations in the realm of video commerce.
“Swirl taps into the trillion-dollar global video commerce market with a unique approach to building a global leader in enterprise and SaaS from India. Their differentiated product, frugal mindset, and relentless focus on business fundamentals positions them well for scaling up across global markets,” said Venus Dhuria, Partner at Shastra VC.