11 July 2018, India:
Shop101 has raised $5 million in Series A round of funding. The funding round was led by Stellaris Ventures Partners. Vy Capital, Raghunandan G ( TaxiForSure co-founder) and Ramakant Sharma (Livspace co-founder) also participated in the funding round. As a part of deal, Rahul Chowdhri, partner at Stellaris Venture Partners will join the board of Shop101..
The company will use the fresh capital to strengthen its core leadership and product teams, scale its supplier network, and enhance its technology platform.
Abhinav Jain, co-founder and chief executive officer, Shop101 said, “Our vision is to democratize e-commerce by empowering entrepreneurs and small merchants to launch their own online store as well as sell on WhatsApp, Facebook, Instagram and other social channels with a few clicks. We have grown 25-30% month on month over the last couple of years.”
Rahul Chowdhari, partner at Stellaris Venture Partners said, “Social commerce provides a more human touch to an online selling experience and opens up a new set of opportunities by tapping into the next 500 million users by providing a layer of trust and curation.”
Shop101 was founded by Abhinav Jain and Aditya Gupta in 2015. It enables entrepreneurs to sell online using Whatsapp, Facebook, Instagram and other social channels. It also provides last-mile logistics through its tie-ups with third-party logistics players.
(Image – AngelList)