Mumbai : ‘Stufflane.com’ a sales-focused tech venture changing the dimension of eCommerce by using sales intelligence and information science. Since the day it is launched Stufflane is reaching new milestones by breaking its own records quarter by quarter.
After fulfilling over 1,870 orders in the last fiscal year 2020-21, the company has crossed about 10,583 orders in the current fiscal year till 31 December 21. Stufflane now expects to fulfill at least 22,500 orders in the last quarter of this fiscal year 2021-22.
“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 3,500 pin-codes. In the coming few years, we see Stufflane.com as global brand reaching in various prominent geographies and serving people in both value and needs segments”. said M K Shelar, Promoter, Stufflane
Core to its heart, Stufflane is striving hard to build a resource-independent, sustainable, scalable and profitable business. It is going to be a game changer in 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, 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 it free from inventory risks. Moreover, the company is having a global shipping aggregator to back its shipping, which is freeing it from logistics hassles. The company is using this supply-chain bandwidth in maximizing its sales potency, optimizing costs and effectively using its research in identifying various high-margin products / sales territories to grow at a faster pace.
The company, with a small team of nine, including the three promoters, has been able to raise INR 55 Lakhs in an angel funding round in the month of August 2021 and now is prepared for another funding round in this quarter. This second round will be unique because it is coming with a unique flavor of debentures carrying options of equity conversions or in the investors parlance they are called as “Optionally Convertible Debentures” [“OCDs”]. The angels who missed participating in its first rounds are the most prospects targeted by the company.
“This business model allows the company to ensure investments following sales and not the other way round. Obviously, its requirement of fixed capital 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