Invertia The platform that helps the Three Kings get their gifts right while promoting local entrepreneurship

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It happened on December 26 and will happen again on January 7. Getting the gifts right is an arduous task, even for experts in the field such as Santa Claus and his majesty the Three Wise Men.

One day after the barrage of gifts, the same picture is repeated year after year: queues of dissatisfied recipients with their presents under their arms who return to the stores to exchange those gifts that did not meet their expectations.

The most cutting-edge disruption can contribute to eradicate these recurring images of each Christmas and, incidentally, help thousands of people during the rest of the year to please special people with their gifts on occasions such as birthdays, celebrations or thanksgiving.

Two years of development of its technology

Those late in writing their letter to the Three Kings, who will arrive tomorrow night in Spanish homes, still have a chance to be remembered this year by their loved ones for the appropriateness of their gift.

The algorithm developed by Barcelona-based Regality provides them with the most advanced technology at the service of this honorable cause.

Its technology, based on artificial intelligence, has seen the light after more than two years of development and an initial investment of close to 200,000 euros, between its own resources and an investment round of 95,000 euros.

Regality launched a pilot test in November 2020, in the midst of the covid-19 pandemic, and began operating with an improved version at the beginning of last December, which has a catalog of 1,500 product references out of a total of 95 brands.

Behind the startup Regality there are three Argentine entrepreneurs who had experienced first-hand the problem of finding the perfect gift. They are Martín Lela, Nicolás Arias and Tadeo García.

Martín Lela is the CEO and co-founder of the Barcelona-based startup Regality.

"Regality was born four years ago, when I realized that there was no direct solution to find a gift tailored to who is going to receive it", recalls the CEO of Regality, Martín Lela.

For the development of said solution, he relied on Arias, an expert in information technology. García, for his part, joined the business project providing knowledge in marketing, and in business management and management.

The platform was initially born in Argentina, but the entrepreneurs decided to move the company to Barcelona because of "the greater opportunities presented by the European market" and because of the "facilities offered by the important entrepreneurial ecosystem that exists in the city," says Lela.

As soon as they landed, they had the help of Barcelona Activa, the City Council's economic development agency.

a custom form

But how does Regality work? It is not about 'magic' but about technology and science at the service of the welfare of society. The user who accesses the platform fills out a form about the person they want to entertain.

From the answers obtained -where questions about your personality and interests, among other issues, are delved into-, the Regality algorithm makes a selection of possible gifts in less than a minute.

"The algorithm also takes into account if it is a birthday present, the horoscope of the person to whom the gift is to be given, calculating that it will be close to the dates the gift is sought", adds the CEO of the Barcelona-based startup.

"It is also important to note that the algorithm is based on the information collected by the person who describes the final recipient and not with general information from studies or markets," the person in charge points out.

Gifts can be delivered directly from the platform to the recipient on the same day or scheduled delivery for a specific date.

Once the indicated gift has been found, the user can select to receive the gift himself or send it directly to its final recipient. "You can choose the day and time. We make deliveries on the same day in Barcelona, ​​24 hours throughout Spain or on a particular day with planned deliveries," Lela points out.

Along these lines, with the aim of also offering last-minute deliveries, they are closing an agreement with one of the largest courier agencies in the sector.

But Regality goes further in the object of its company. While helping to find that gift that is sometimes difficult to define, it does so in a way that promotes local entrepreneurship and reaches out to other startups in Barcelona to make themselves known.

And it is that, in the same way that you can find articles from big brands such as Nike, there are also products from other local startups in the catalog, such as Waynabox, VermutApp or Colvin. "We want to help emerging companies to make themselves known and grow hand in hand," says Martin Lela.

local entrepreneurs

Other local businesses whose products and services can be found at Regality are Agüita, Freshly cosmetics, Garage Beer Co, Growold, Lluna alquimia, Lulla doll, Sunsais, the Curiosity Chop.

"The objective is to bring our users unique products that are mostly from local entrepreneurs, in this way, we contribute to a more sustainable world and support the development of this type of company," the co-founder stresses to D+I.

In less than a month since the launch of the platform, it has already reached nearly 3,000 users, of which 75% complete the questionnaire about the person to give as a gift. By the end of 2022, which will be Regality's first full fiscal year, the founders expect to reach a turnover of €450,000.

The business model consists of charging a commission for sales made through the platform. Once the proposal has been validated in the Spanish market, the founders want to expand quickly to other countries to prevent competitors from arising.

Internationalization process

"There is no other technology like ours. We are pioneers and we want to take advantage of this advantage to make our way into as many markets as possible, starting with Europe," explains Lela.

To finance the internationalization process, they want to raise around three million euros this year, in what will be their second round of investment. On the other hand, they are pending the granting of an Enisa loan, during the first quarter of 2022, worth 75,000 euros.

The money raised will also be used to open offices in Madrid, which will be added to those in Barcelona, ​​where the company is based, which in total employs a dozen people.

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