After a year that wasn’t particularly investment-friendly, Easter Egg, blockchain-enabled, global gifting platform has raised its initial round of funding from Wealthy Ideas.
“It’s overwhelming the way people have taken to Easter Egg App in Bangalore, Pune and Singapore. This funding will help us take the products to other geographies as well”, said Sandeep Sangli (Co-Founder and CEO). He also added, “Apart from the core team, we also require a lot of talent to take this idea far and wide. This funding has come at the right moment and we’ll use it to hire great talent.”
Easter Egg is a block chain-enabled, global gifting platform that enables people to gift across geographies. They have started out with four categories – Food & Beverages, Spa & Wellness, Activities and Experiences and it’s operational in three cities – Bangalore, Pune and Singapore. Which means, people can gift to their friends and family across these three cities and people from anywhere in the world can gift to their loved ones in these cities.
“The advent of block chain technology has helped us rethink the way we look at gifting, loyalty & rewards. Today most vouchers are tied to a brand and they cannot, in most cases, be shape-shifted to be used with another brand. Loyalty points and wallet companies typically handle this. We are working on a solution that will bring vouchers, loyalty points and payments, all on one single platform”, said Sandeep Sangli.
Akshay Ananth (Co-Founder and CMO) added, “The Easter Egg block chain will be powered by Easter Egg Coins or tokens that can be used as vouchers, can handle payments and can also be shape-shifted into other tokens that can help our partners manage their own loyalty programs on our platform at costs that are far cheaper than existing solutions”. And needless to say, the security plays a vital role in such a scenario, therefore block chain.
A statement from the spokesperson of Wealthy Ideas said, “Easter Egg is an idea which we were excited from the time we heard them out first. So, we are naturally glad to add them into our roster of investments in our portfolio of companies.” The statement also went on to add, “As consumers spend more and more time on their smartphones, it was only logical that this device took gifting to the next level; and across geographies. We are happy to partner Easter Egg to take the idea of the joy of gifting across various geographies.”