Blockchain-enabled global gifting startup Easter Egg raises $400K

Easter Egg, a blockchain-enabled, global gifting platform that enables people to gift across the globe, has raised $400K in its initial round of funding from Wealthy Ideas.

The company plans to use the funds to hire new talent.

Sandeep Sangli Co-Founder and CEO, Easter Egg, said, “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.”

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 also enables people from anywhere in the world to gift their loved ones in these  operational cities. The startup is currently operational in Bangalore, Pune and Singapore, and manages four categories - Food & Beverages, Spa and Wellness, Activities and Experiences.

The Easter Egg blockchain will be powered by Easter Egg Coins or tokens that can be used as vouchers. As per the company, this will "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.”

"The advent of blockchain technology has helped us rethink the way we look at gifting, loyalty and 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,” Sandeep further added.