KIKO TV is a Mumbai-based live video e-commerce platform that leverages the power of Artificial Intelligence to provide live streaming services to users. Well, recently the start-up has announced to have raised an undisclosed amount of funding in its latest Pre-Series A financing round. According to reports, the funding round was led by Princeton-based Venture Capital and investment management company, SOSV.
Reports suggest that the round has not been concluded yet and is open for more investors to participate. KIKO TV mentioned in a statement that it is expecting a few more investors to back the company and co-invest in the Pre-Series A round. However, when asked about the latest infusion of funds, the start-up mentioned utilizing this money to boost its product catalogue and enhance adoption rates.
KIKO TV aims to revolutionize the user’s traditional shopping experience by disrupting the mobile commerce ecosystem by introducing the concept of live shopping and interaction between buyers and sellers. All in all, the company plans to take a user’s shopping experience to a virtual Artificial Intelligence-based smartphone screen, according to a report by Entrepreneur.
The concept of the platform definitely does appeal masses as it leverages the power of Artificial Intelligence-based technology to scan entertainment videos and content on the platform and simultaneously shows suggestions for products similar to that content by scanning products and apparel in the video or entertainment content being watched, the company mentioned in a statement.
So, this clearly means that no more searching around on Google about the dress that actress was wearing in a particular movie or the bracelet the guy had in a piece of entertaining content. KIKO TV has you covered.
According to the company profile, KIKO TV was founded last year in 2020 and most recently it has raised undisclosed funding in Seed round led by Mumbai-based 9Unicorns Accelerator Fund.
According to a report by Entrepreneur, William Bao Bean, General Partner at SOSV commented that Live Video is the evolution of the native traditional shopping culture and today’s e-commerce market. He added that the mobile-first business has a lot of potential and enormous opportunities for the future. He concluded his statement by saying that SOSV could not have found a better team to partner with than KIKO TV.
Furthermore, in the announcement the company also mentioned to be succeeding with their MOX Mobile-only Accelerator program. Shivam Varshney, Co-founder and CEO of KIKO TV mentioned in a statement that with the inevitable availability of high-speed 5G internet in India, live video will become the future of e-commerce platforms and shopping. He further added that the company aims to become the market leader in this segment.