Facebook Pumps $40,000 Into Indian Fashion Start-up CoutLoot
Facebook logo. (Image: Reuters)
CoutLoot, an end-to-end fashion re-commerce platform, has been selected for Facebook's developer-focused "FbStart" programme, receiving access to $40,000 worth of credits and services from the social networking giant.
Launched last year, "FbStart" helps developers grow their startups by leveraging valuable tools and services, worldwide events and opportunities to engage with the Facebook team.
Under the programme, CoutLoot would also receive mentoring from Menlo Park-headquartered tech giant's engineering teams, the company said in a statement on Wednesday.
"'FbStart' programme will be an immense boost to us at this phase of our evolution. Receiving mentorship from the pioneer of social networking will bring a huge opportunity for us to lead the fashion re-commerce revolution in India within the next couple of years," said Jasmeet Thind, Co-founder, CoutLoot.
The start-up will also get a chance to get access to the exclusive community of Facebook's developers and worldwide events.
The programme provides free access to more than 25 services including open source tools like React Native, FB Login and Account Kit and App Analytics.
India is the largest market for FbStart outside the US. According to the product partnerships team at Facebook, over 75 per cent of top-grossing apps in India get integrated with Facebook.