Cha-ching. Photo credit: Pixabay.
Coutloot works a lot like an online clothes exchange shop – you can shop, but you can also sell the clothes that have worn out their welcome in your closet. The Mumbai-based startup has been chosen for Facebook’s FbStart program, gaining US$40,000 in resources, such as free access to tools like React Native, FB Login, Account Kit, and App Analytics.
FbStart is a global initiative aimed at helping mobile startups build and grow their apps. It offers its startups access to year-round support from Facebook product experts, and up to US$80,000 in free tools and services from the program’s partners. It’s a small amount, but Facebook’s name has been emerging in conjunction with Indian startups more and more, this year in particular.
See: India bans Facebook’s Free Basics
FbStart launched in Bangalore as part of a worldwide event in August last year. MyChild, a Palo Alto-based startup that helps parents in India screen for developmental disorders in their kids, and pregnancy and babycare app Healofy have also been chosen for FbStart.
Facebook’s name has been emerging in conjunction with Indian startups more and more, this year in particular.
In September, Indian edtech superstar Byju’s raised US$50 million in a series D round led by Sequoia Capital and the Chan Zuckerberg Initiative (Mark Zuckerberg’s and Dr. Priscilla Chan’s personal fund). The round marked the fund’s first investment in Asia.
In March, Facebook co-founder Eduardo Saverin and Silicon Valley investor Raj Ganguly raised a US$143 million Asia focus fund, with their eyes set specifically on series B and series C rounds in India and Southeast Asia. In January last year, Eduardo took part in funding Mumbai-headquartered baby and child ecommerce site Hopscotch.
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from Tech in Asia https://www.techinasia.com/facebook-funds-coutlout-india
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