Woovly, a social commerce startup, is in talks to get $5 million in funding from Shiprocket and other investors
- ByStartupStory | March 7, 2022
Woovly, a social commerce business located in Bengaluru, has raised $5 million in its Series A fundraising round. For this fresh investment, the business is in advanced negotiations with Zomato-backed B2B logistics startup Shiprocket. Existing investors in Woovly, such as Duane Park and SOSV’s MOX accelerator, will also take part in the round.
The funding comes roughly two years after the company secured $2.5 million in a Pre-Series A round. The company’s Pre Series A round was headed by Duane Park, an investment firm founded by India Equity Partners co-founder Anurag Bhargava.
Woovly also plans to raise a $20 million Series A investment round from additional investors in April-May 2022.
Shiprocket already has invested in Eat Better Ventures, a healthy food D2C business, and Logibricks, a SaaS platform, and has purchased four startups in 2022 alone.
Woovly was founded in 2019 by Venkat J and Neha Suyal as a website that allows users to create wishlists/bucket lists to help them find new travel places and activities. During the epidemic, however, the company’s founders decided to turn Woovly into a social commerce platform.
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