Bengaluru-headquartered Degpeg raises Rs 2.93 crore funding from The Chennai Angels
- ByStartupStory | July 7, 2022
Degpeg, a supplier of live commerce platforms with its headquarters in Bengaluru, has secured Rs 2.93 crore in a funding round that was co-led by The Chennai Angels and included Venture Catalysts.
Degpeg would use the funds to expand its marketing efforts and increase its product offerings. According to a corporate release, Degpeg enables brands, retail stores, and commercial organisations to launch from their websites or from among more than 30 social media and community platforms.
Degpeg founder Vipul Jain said, “Over the past few years, live streaming has gained popularity across a range of industries, including games, education, and content producers. We adopt a futuristic strategy to position the firm as a top video and live commerce solution for all types of brands and enterprises worldwide.”
Venkatesh V, the principal investor in The Chennai Angels, claimed that social commerce is becoming a significant consumer segment and that Degpeg is ideally situated to take advantage of this potential.
Venkatesh, who is also the Director and CEO of CavinKare Pvt Ltd. said, “In their journey so far, the Degpeg team has demonstrated outstanding insight, planning prowess, and execution track record. The Chennai Angels are thrilled to collaborate with Degpeg and are looking forward to doing so, a significant manufacturer of fast-moving consumer products. The Chennai Angels have taken a leading role in a number of innovative technological start-ups, and we are excited to see them grow in the years to come.”
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