Kiko Live raises $1M in pre-Series A funding
Video shopping platform Kiko Live announced on Monday that it raised $1 million in its pre-Series A funding round led by SOSV. The round saw participation from GSF Accelerator, and Venture Catalysts, along with investors Dinesh Agarwal (IndiaMART) and Amarjit Batra (Spotify India).
Reportedly the company will use the capital raised to launch new cloud stores and penetrate further into the market.
Kiko Live co-founder and CEO Shivam Varshney said, “We are delighted to be a part of the GSF Accelerator portfolio. The funding will be used to scale up technology and marketing, and onboard live sellers on the platform.”
Kiko Live was founded by Shivam and Alok Chawla. It offers its user base the ability of open a shop in two minutes and sell their products on its live video shopping platform.
Commenting on the investment, GSF Accelerator’s Rajesh Sawhney said, “Kiko Live solves the online selling problem of millions of small retailers, which is nearly a $1 trillion business in India. We believe their solution is simple and easy to adopt by sellers, and being early movers in this space gives them a great advantage.”
“There is no better influencer to sell products, than the shopkeeper himself. The Kiko Live app brings your entire local market into your palm, and we believe Kiko Live is the best retail solution available for shops. We are happy to back them in their growth journey,” stated IndiaMART’s Dinesh Agarwal
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