Funding Alert

Sony Innovation Fund, SOSV invests in social commerce Woovly

• ByStartupStory     |    November 27, 2023

Social commerce startup Woovly has secured undisclosed funding from investors such as Sony Innovation Fund, SOSV, RTAF, and ViNners. This infusion of capital aims to bolster Woovly’s platform, enabling the company to further enhance the social commerce experience it offers to users.

Gen Tsuchikawa, CEO and Chief Investment Officer of Sony Ventures Corporation, expressed enthusiasm about joining Woovly’s journey and supporting their vision for shaping ‘content-driven commerce.’ He praised Woovly’s innovative integration of immersive video content and seamless shopping experiences, citing this as a distinguishing factor poised to capitalize on India’s digital retail sector’s growth.

Launched in 2020 by Neha Suyal and J Venkat, Woovly primarily targets millennials residing in Tier II and III cities. The platform serves as a comprehensive hub for discovering and purchasing beauty and personal care products. Woovly’s approach intertwines shopping with immersive video content, aiming to engage audiences and simplify the purchasing process.

The company aims to tap into a substantial market of 200 million consumers of short content and has reported a remarkable surge in user base—experiencing a 600% increase over the past 18 months and a 500% expansion in recent years. 

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