Mumbai (Maharashtra) [India], January 5: ‘Stufflane.com’, a sales-focused tech venture, is changing the dimension of eCommerce by using sales intelligence and information science. Since its launch, Stufflane has been reaching new milestones by breaking its own records quarter by quarter.
After fulfilling over 1,870 orders in the last fiscal year 2019-20, the company has crossed about 10,583 orders in the current fiscal year till 31 December 21. Stufflane now expects to fulfil at least 22,500 orders in the last quarter of this fiscal year 2020-21.
“We have crossed nearly 5.6 times of last year’s order levels in this fiscal year till now and are aiming to close this year with 33,000 orders. Our delivery points have increased from 99 pin-codes to about 3,500pin-codes. In the coming few years, we see Stufflane.com as a global brand reaching in various prominent geographies and serving people in both values and needs segments,” said M K Shelar, Promoter, Stufflane
Core to its heart, Stufflane strives hard to build a resource-independent, sustainable, scalable and profitable business. It is going to be a game-changer in the eCommerce space – claims the promoters because it will be using information science and sales intelligence in sales forecasting, pitching and customer acquisition.
Starting its journey from Mobile phone cases, the company now has plenty of products ranging from garments and gems to holy goods. Most of the products are sold in up-sell or cross-sell using artificial intelligence tools. The company follows a just-in-time inventory model for procuring goods, thereby keeping them free from inventory risks. Moreover, the company has a global shipping aggregator to back its shipping, freeing it from logistics hassles. The company is using this supply-chain bandwidth to maximise its sales potency, optimise costs, and effectively use its research to identify various high-margin products/sales territories to grow faster.
With a small team of nine, including the three promoters, the company has been able to raise INR 55 Lakhs in an angel funding round in the month of August 2021 and is now prepared for another funding round in this quarter. This second round will be unique because it is coming with a unique flavour of debentures carrying options of equity conversions or, in the investor’s parlance, “Optionally Convertible Debentures” [“OCDs”]. The angels who missed participating in its first rounds are the prospects most targeted by the company.
“This business model allows the company to ensure investments following sales and not the other way round. Obviously, its fixed capital requirement is very low, while it has the highest potential to scale up faster than its peers. Naturally, it does not engage in cash burning, which is the biggest risks generally investors face in start-ups working on e-Retailing models,” said V A Patankar, Promoter, Stufflane
For more information, kindly visit the website https://www.stufflane.com/
Divya Agarwal
