Redfynd aims to transform how consumers discover & engage with fashion: Divya Manjari

Adgully has been turning the spotlight on the entrepreneurs who fought against all odds to bring their dreams to fruition in our special series – START-UP STARS. We at Adgully wholeheartedly support the ‘Vocal for Local’ movement and have been featuring numerous local/ homegrown businesses, brands, and Apps in the country launched in the last few years.

In conversation with Adgully, Divya Manjari, Founder and CEO, Redfynd, speaks about the origins of Redfynd, the ambition to create the world’s most comprehensive and personalized fashion search platform, leveraging artificial intelligence to enhance online shopping, intense competition for funding, evolution in the Indian startup ecosystem, and much more.

⁠Could you elaborate on the core vision behind Redfynd and how it addresses the inefficiencies of traditional and online shopping?

Traditional shopping is hindered by inefficiencies like limited product availability, geographical constraints, and inconsistent pricing. Consumers often endure time-consuming visits to multiple stores, dealing with long lines and restricted operating hours. Online shopping, while convenient, presents challenges such as choice overload and navigating poorly designed websites. Consumers struggle with inconsistent product information, spending hours hopping across different stores and scrolling through endless lists.

Redfynd envisions revolutionizing online shopping by creating the world’s most comprehensive and personalized fashion search platform. By integrating advanced AI technologies and a vast array of products from various brands and stores, Redfynd aims to transform how consumers discover and engage with fashion. Our goal is to become the ultimate destination for fashion discovery, seamlessly blending technology and user experience to offer a platform where every shopper feels understood. With intuitive search functionalities like image search, semantic text search, and personalized recommendations, we strive to make shopping efficient and enjoyable. Features like “refine” for finding exactly similar products, wishlist sharing, price drop alerts, and a cashback rewards program add value and excitement to every interaction. Our vision extends beyond convenience; we aim to make online shopping fun, rewarding, and indispensable for our users.

⁠What were some of the biggest challenges that you faced while launching Redfynd, and how did you overcome them?

Our biggest challenge was maintaining the website with a very lean team, which was simultaneously building features and supporting the system. As the number of users and products grew, we had to ensure performance and scalability. Balancing feature development with system maintenance required meticulous resource management and strategic planning. Despite the small team, we prioritized essential tasks, automated processes where possible, and utilized scalable cloud infrastructure to handle the increasing demands. This approach allowed us to consistently deliver a seamless user experience while expanding our platform’s capabilities.

⁠How does Redfynd leverage artificial intelligence to enhance the online shopping experience for consumers?

Artificial Intelligence (AI) plays a crucial role in Redfynd’s operations, enhancing the shopping experience through several innovative applications. Starting with improving data quality, AI enriches product attributes to ensure that filters and searches work more effectively. It powers both visual and semantic search, allowing users to find products with greater accuracy and ease.

Beyond enhancing the consumer shopping journey, AI also supports brands by optimizing visibility and engagement. This helps brands reach their target audiences more efficiently and improve their overall market presence.

AI is at the heart of Redfynd’s personalization engine, tailoring product and deal recommendations to individual user behaviors and preferences. By analyzing user data, AI ensures that each user receives a customized shopping experience, making the platform more engaging and user-friendly. This personalized approach not only improves customer satisfaction, but also drives higher conversion rates for the brands featured on Redfynd.

Redfynd has grown from 100–200 daily visitors to 200,000 monthly visitors. What strategies contributed to this exponential growth?

Redfynd has grown significantly over the last few months through several key strategies. Social media campaigns and influencer collaborations played a crucial role in increasing awareness. By partnering with influencers and bloggers, Redfynd tapped into established audiences.

Targeted marketing campaigns on platforms like Instagram, Facebook, and Twitter helped to reach a broader audience. These campaigns were designed to highlight Redfynd’s unique features, educating potential users on how the platform can enhance their shopping experience.

Word-of-mouth spread significantly contributed to Redfynd’s growth. As users found value in the platform’s features, such as AI-driven personalization, efficient search functionalities and deals feed on home page, they recommended it to friends and family, driving organic growth and user engagement.

Lastly, cashback rewards and referral programs incentivized users to join and remain active on the platform. These incentives not only attracted early adopters but also encouraged existing users to refer others, creating a virtuous cycle of growth and engagement.

Could you discuss the level of access to funding and investment for startups in India, and how Redfynd navigated this aspect during its growth?

India’s startup ecosystem has grown substantially, with VC and PE investments hitting record highs. In 2021, startups raised $38 billion, driven by strong investor interest. However, 2023 saw a 76% drop in funding to $10 billion. Competition for funding is intense, with early-stage startups facing rigorous due diligence and high expectations.

Redfynd navigated this by securing pre-seed funding from the friends and family network and leveraging the ‘Microsoft for Startups’ program for tech and infrastructure support cost. By focusing on maintaining a low burn rate and early revenue generation, Redfynd minimized reliance on external funding, enabling effective scaling and growth.

⁠How do you see the Indian startup ecosystem evolving over the next few years, particularly in the tech and e-commerce sectors?

India’s startup ecosystem is evolving rapidly, now ranking as the third-largest in the world. AI is significantly disrupting the tech landscape, with India hosting over 1,500 AI-based startups. With emergence of startups like Krutrim.ai, building foundational models, AI cloud infrastructure and chips for AI, India can become self reliant in technology infrastructure. Leveraging India’s vast talent pool, cost advantages, and strong ecosystem support, we will see more innovative startups with global impact emerging from India.

In the e-commerce sector, we’re experiencing significant investment, making it a booming industry. The e-commerce market in India is projected to reach $300 billion by 2030, driven by increasing internet penetration and government initiatives like the Open Network for Digital Commerce (ONDC) and the national logistics policy. AI and tech-led innovations in payments, hyper-local logistics, customer experience and marketing are expected to support the growth of startups in this sector.

With these advancements, India is not only enhancing its domestic market, but also positioning itself as a global hub for tech innovation. The future looks promising as more startups emerge, driven by technological advancements and a supportive business environment.

⁠⁠What advice would you give to young entrepreneurs who are looking to start their own tech or e-commerce ventures?

Start by identifying a real problem that genuinely needs solving. Conduct thorough market research to understand the pain points and gaps in the market. Ensure that the problem you choose to tackle is significant and affects a broad audience. Once you’ve identified this problem, recognize why you are uniquely positioned to solve it. Leverage your background, skills, and insights to build a solution that others might not see.

Believing in your vision and persevering through challenges is crucial. There will be setbacks, but maintaining focus on your mission will guide you through tough times. Stay adaptable, continuously seek feedback, and be ready to iterate on your solutions. Your passion and dedication to solving the identified problem will be key drivers of your success.

⁠What are your plans for expanding Redfynd’s coverage of online stores and geographical reach to the US and Europe?

We are currently focused on enhancing the user experience and improving the relevance of our personalized recommendations. This year, our primary focus will be on integrating beauty and homegrown sustainable fashion brands into our platform. We recognize the growing consumer demand for sustainable and ethically produced products, and we aim to provide our users with a curated selection of these brands.

Looking ahead, we plan to kickstart our international expansion early next year, starting with the US market. This expansion will allow US users to discover and purchase a variety of products from Indian sellers who offer shipping to the US. By introducing unique and sustainable Indian fashion to a broader audience, we aim to bridge the gap between Indian sellers and international consumers, providing a diverse and enriching shopping experience. Our goal is to make high-quality, sustainable fashion accessible to more people while supporting the growth of homegrown brands on a global scale.