Shopr.tv, a live commerce startup, has raised $1.7 million in funding from institutional investors Beenext and Y-Combinator, along with angel investors.
The startup, founded in 2021 by entrepreneurs Akhil Suhag, Akshay Suhag, Mukul Anand, and Tushar Dhara, said it will invest the money in its technology, product, and team.
Live commerce is a relatively new trend in the e-commerce industry where the customer can buy a product in real-time while interacting with the seller on a live stream through chats and reactions.
Live commerce platforms saw a rise in popularity in China during the latter half of the last decade. Alibaba’s Taobao Live generated $7.5 billion in transactions during the first 30 minutes of the company’s Single’s Day sales in 2020.
India has its own share of live commerce apps, including Trell, Simsim, and Bulbul. Earlier this year, Walmart-owned Flipkart joined the live commerce train – the entry of one of the largest e-tailers experimenting with the medium.
The seed funding round also saw Locus Ventures, Shiprocket, Goodwater Capital, and angel investors likeGroww’s Lalit Keshre and Afore Capital’s Venky Karnam investing in Shopr.tv.
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