How about a possibility to personal a smartphone or an digital gadget at simply 1% of its most retail value?
Dreampot, an e-commerce software developed by a Kochi-based start-up, affords that chance via an idea that it regards as ‘an alternative way to shop’ by gamifying the e-commerce experience.
“The best price offer gets unlocked to all users who pay 1% of the offer price. When the number of such potential buyers of a product reaches 100, we applying an algorithm select a winner who gets to bag it without making any further payment. However, the remaining 99 users do not lose what they have paid but get to redeem it either fully or partially on the same or other products over a period,” says Azhar Seyad, founder CEO of Dreampot.
Till now, the app has recorded 3.65 lakh downloads and shipped merchandise to 25 States throughout the nation. The app predominantly affords smartphones, digital devices, and small residence home equipment. The app has listed all of the almost 2,000 winners, who’re predominantly from Kerala, which stays the focal space of the start-up.
“We are rated 4.3 stars with more than 10,000 reviews on Play Store, it shows how people are enjoying using our app,” says Nizaj Salim, Cheif Experience Officer, Dreampot.
Dreampot is among the many 15 start-ups from India chosen for the Scale up Game being organised by the Department of International Trade of the United Kingdom as a part of its entrepreneurship programme. The occasion, being held in Birmingham between March 4 and 10, will function a number of occasions and networking alternatives.
“They were looking for innovative start-ups with a model fit for scaling up globally. The idea is to get those start-ups to develop that model in the U.K. ecosystem,” says Mr. Seyad.
Though Dreampot turned purposeful in July 2021, it achieved traction round final August. Though registered with Startup India and the Kerala Startup Mission, the start-up has not utilized for funds from any of those businesses.
“We are planning to scale up, the response has been tremendous with minimum market efforts in Kerala. With the response and traction we have received, we are now looking to raise funds to fuel our growth further in Kerala and other markets. The focus will be on marketing and improving the tech,” says Lijil Lakshman, CFO, Dreampot
