Ecommerce startup Baaz raises $700K from Lead Angels, RISO Capital, and other investors
- ByStartupStory | April 28, 2022
Baaz, a video ecommerce business, has secured $700k from Lead Angels and RISO Capital, as well as several high-net-worth individuals. It intends to use the funds to improve its product and technology while also expanding its consumer base.
Chitresh Parihar and Ruben Gregory founded Baaz in March 2020 to help independent entrepreneurs sell online utilizing videos in a fun and profitable way.
“The invested funds will offer additional fuel to our exponentially rising rocket ship, deliver more value to our clients, and increase our team of rockstars,” stated Chitresh, Co-founder and CEO of Baaz. By the end of 2022, we expect to have grown by 2500 percent in terms of GMV, with 50 million minutes of video watch time and 500k goods sold.”
According to Baaz, after coming out of beta in January 2021, it has increased entrepreneur business by 90% month over month, and video watch times have increased by 500%.
With its infrastructure and riders covering close to 100,000 green kilometers every month, Baaz already lives in two zones of Delhi. The New Delhi-based business claims to have switched batteries 3,000 times and is attracting more than 300 partners on a daily basis.
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