Mumbai based Startup CoutLoot, an end-to-end fashion recommerce platform, has received $40,000 worth of credits and services from Facebook’s developer focused “FbStart” programme.
It’s important here to not that it’s ‘in the form of credits and services’ not real money funding. The Mumbai based startup has been selected for this funding.
About FbStat programme for Start-ups with potential
Launched last year, “FbStart” helps founders grow their Startups by providing them assistance on the developer side of the Business. That’s a Starup selected under the FbStart programme will get credits and services to spend on the paid services Facebook provides to businesses. In addition, the selected startup also gets opportunities to engage with the Facebook team, receive mentoring from Menlo Park headquartered tech giant’s engineering teams.
With the recent Credits and Services funding Mumbai based Startup CoutLoot will be able to make use of the services the credits can buy. It also gives them privileges as defined in the deal between Coutloot and Facebook.
CoutLoot gets added to Facebook’s Start-up Nursery
For cash rich or giants in the tech World, the programme’s such FbStart act as a nursery to help potential blossom. The idea is to acquire them when in future, if they seem a good buy.
It’s an opportunity for Jasmeet Thind, Cofounder, CoutLoot, to make something good of CoutLoot. The startup will get a chance to get access to the exclusive community of Facebook’s developers and worldwide events. Which in essense means more networking opportunities outside India and within proper tech circles.
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. Notably similar startup programs which will tend as a nursery bed for future businesses or business ideas have been launched by Google, Apple etc.