New Delhi based entrepreneur Ansh Arora has confirmed a tech capital investment from Indo-German based Muellner Internet into the startup ‘LookitApp’.
Sources suggest that Muellner Internet’s Ankit Sharma has invested a capital of upwards 10,000 euros and an Intellectual capital worth 60,000 USD into Delhi based fashion startup. The investment is a debt based IP financing that spans across 3 years. Further, sources suggest Muellner Internet will explore institutional investment into ‘Lookitapp’ in the near future.
Lookitapp is a one stop digital archiving platform for releasing fashion brands and their portfolio. It is a VR based product company that plans to explore a blockchain use case. The startup plans to roll out its product to Indian market by end of 2019.
Ansh Arora, founder of Lookitapp, comes from a business background. A small team at Lookitapp plans to launch digital fashion product and disrupt the social commerce sector. Lookitapp hopes to bring multiple Indo-European brands under its ambit. The competition includes bigger startups like myntra, which are actively exploring innovation in social commerce. Lookitapp will also target B2B space in industries like jewellery, exclusive merchandising.
This is the first of the series of early stage tech capital investments by social entrepreneur Ankit Sharma. Sources futher suggest that Muellner Internet will focus on banking and blockchain startups in India too.