Fairmart has just closed a US$1.5M seed round co-led by Quest Ventures and Entrepreneur First, with participation from SOSV, Vectr Ventures and Hustle Fund.
Jan Gasparic and Daniil Moskovtsov met in 2020 at an Entrepreneur First programme in Singapore, where they began to discuss various problems in the market. At one point, a specific question crossed their minds: how hard it is to find whether or not a retail store carried a particular product?
Started in November 2020 and headquartered in Singapore, Fairmart helps SME retailers automatically digitise their products so that shoppers can find them online. It essentially solves the problems that prevent local retailers from leveraging the benefits of digitisation, starting with the most labour-intensive task of managing online inventory.