SquareKey from Mumbai Raises Funds from 500 Startups, Devaraj SouthWorth and Others
New York and Mumbai-based SquareKey Inc., which runs the online lifestyle store SquareKey.com, has secured an undisclosed amount in funding from 500 Startups and a few others, including Devaraj Southworth, executive vice president at US-based Zipmark.com, which enables businesses to send and receive digital checks.
Founded in 2011 by Avantika Daing, SquareKey is an editorially driven e-commerce lifestyle site for Indian consumers with access to a range of international brands and curated services. Its editorial section provides all the relevant information on the latest designers, fashion trends, styles, etc. The firm has partnered with more than 60 brands and manufacturers, including Nicole Miller, BCBG, Nanette Lepore, Ben Sherman and Max Azria.
The platform also offers a feature called Personal Shopper, where a shopper can shop as per his/her choice of apparel in New York, while sitting in India. As soon as the customer contacts the editorial team for the personal shopper option, the SquareKey team interviews (telephonic) the customer to know his/her requirements. The team then selects photos and links from various brands and emails those to the customer for his approval. Once the items get approved, the personal shopper team shops the items and ships it directly to the user.
Prior to setting up SquareKey, Avantika was senior director at Eyetech in New York, which completed a $731 million IPO three years after its founding. Prior to that, she held marketing-management positions at Procter & Gamble and Bristol-Myers Squibb. She has also co-founded Spinfrenzy, a generation-Y social networking and commerce site.