Fashion re-commerce platform CoutLoot has announced the launch of a revolutionary AI and Image Recognition-based selling module on its app called Firesell, which will enable users to list products on the platform within a few seconds without typing anything at all.
Backed by Facebook and a part of the investment portfolio of Venture Catalysts, India's top integrated incubator platform, CoutLoot has been quite popular among young millennials as the go-to buying and selling app.
The new feature intends to further amplify its services for them. The Firesell module enables the seller to click and upload the picture of the desired product on CoutLoot.
The algorithm automatically scans the product and gives out an accurate title to the product, capturing the brand as well, if visible. It's like magic, listing an item!
"We're essentially creating the segment and after fashion we're looking at our aggressive entry in other relevant categories consumed by millennials. This is just the beginning of exciting times to follow," said tech co-founder, CoutLoot, Vinit Jain.
Earlier, CoutLoot raised USD 1 million round from Chinese giant CashBUS's investment arm Jadevalue Fintech, and it is preparing to enter other relevant categories for P2P transactions in the months to follow.
"We at Vcats have always had an eye for outstanding startups backed by aggressive founders trying to create India's next big consumer business. We strongly believe in CoutLoot's vision of creating a billion user platform for P2P in India," said co-founder and president, Venture Catalysts, Dr Apoorv Ranjan Sharma.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)