Live Commerce SaaS platform Swirl has raised USD 250,000 in a pre-seed funding round led by global strategic investors and angels based in the US, Singapore, Middle-East and Europe. Investors include Asheesh Khaneja – Ex WW Executive IBM, Siddarth Razdan – Founder Indianivesh FirstBridge Fund, Vineet Sharma – VP Brandscope (Dentsu), Nirmal Shah – Prism Advisory, Gaurav Agarwal – Freedom Financial Network, and others.
The funds will be used to support the company’s growth in India, and optimize its multi-cloud video commerce technology platform that enables retailers to empower their in-store associates to provide an immersive video shopping experience for a global audience.
“Wherever the end consumer is involved, Live Commerce will play a major role in enabling sales by bridging the online-offline divide. Right now it may be eCommerce, but if other industries such as Financial services Real-Estate, Automobile, Travel and Hospitality, etc adapt, then we are potentially looking at $1Trillion opportunity at play here which means video led sales engagement models will occupy 10-15% of global eCommerce market share by 2025,” said Kaizad Hansotia, Founder and CEO.
“I believe the Swirl Live Video Shopping solution is ready for global adoption. Its diverse use-cases across multiple verticals such as fashion, beauty, lifestyle, jewellery, luxury and beyond, have an immediate topline impact and increased conversion rates. The ROI is just amazing for both SMB’s and large enterprises that are building their direct-to-consumer channels,” said Asheesh Khaneja.
“I think video social interactive commerce is an idea whose time has come and 5G will only accelerate this trend. Happy to be a part of Swirl’s journey to becoming a global leader in this space,” added Siddarth Razdan.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.