Shopr.TV, India’s first dedicated live-commerce platform announced that it has raised $1.7 million seed capital from reputed global institutional investors, including BEENEXT, Y-Combinator, Locus Ventures, Shiprocket, Goodwater Capital, and more. Renowned angel investors such as Kunal Shah (CRED), Lalit Keshre (Groww), Venky Karnam (Afore Capital), amongst others, are also a part of the round. Shopr.TV will invest the funds into its technology, product, and team.
Live-commerce is a revolutionary take on e-commerce, allowing the instant buying of a product or service via live video streaming. The trend has been steadily growing in India, accelerated by stark changes in online consumer behaviour since the onset of the pandemic. An established and exponentially growing concept in China, live-commerce offers a unique model for retailers and individual sellers to create direct, real-time communication channels with customers, and consecutively make sales, the statement said.
Recent market research figures indicate that the Indian live-commerce industry is projected to be worth about $5 billion in gross merchandise value (GMV) by 2025. Shopr.TV was founded in 2021 by entrepreneurs Akhil Suhag, Akshay Suhag, Mukul Anand, and Tushar Dhara to address Gen-Z’s increasing appetite for live-commerce in India.
Akhil Suhag, Co-Founder and CEO, Shopr.TV, expressed his optimism, “Live-commerce is the natural next step in the evolution of e-commerce, and it has the potential to revolutionise the entire consumer experience. There is a refined layer of accessibility, credibility, and reliability that live-commerce brings to the online buyer-seller relationship. Our ambition is to create for India a shopping experience that’s engaging, highly interactive, and veritable. We have the right product, the right team, an enthusiastic market, and now the perfect partners who share our vision of transforming the way India shops.”
On the occasion, Hero Choudhary, Managing Partner, BEENEXT, remarked, “We believe the live-commerce model is entertaining, immersive, and poised to keep consumers engaged as a new form factor for commerce. Sellers can optimise sales in real-time through better inventory management while interacting with their customers directly. At BEENEXT, we are enthusiastic about the Shopr.TV founding team and how they weave the thread of customer decision journeys from awareness to purchase, with the finesse of their product experience. We are excited to be a part of Shopr.TV’s journey to make the commerce experience more engaging while driving better conversion for sellers.”
Vishesh Khurana, Co-founder of Shiprocket, commented, “We strongly believe in the future of new-age e-commerce models for India. The reach and potential impact of live commerce is vast, and the way Shopr.TV amalgamates live commerce with social, creator-driven commerce is unique. We are excited to be a part of this journey of integrating entertainment with instant shopping.”
Diksha Singhi, Founder of A Little Extra, a leading brand selling on Shopr.TV, spoke about her experience, “The live selling experience on Shopr.TV was both thrilling and motivating. It reaffirmed our belief both in our products that they are genuinely good, and that our customers are loyal. It brought our customers together, created a live interaction and made them aware of our business, the team, and the products a lot better. We are now excited to launch our new collection on Shopr.TV, propelled by the power of live-commerce.”
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