[YS Exclusive] Social commerce platform Trell to raise $100M at close to $800M valuation
Founded in 2016, Bengaluru-based social commerce platformis in talks to raise $100 million in funding led by ecommerce giant — , and other investors, sources close to the development revealed.
With this fresh funding, the startup’s valuation will touch anywhere between $600 million and $800 million. In July 2021, the startup had raised $45 million in a Series B round led by investors including Mirae Asset and H&M, among others.
Trell has been focused on investing in four different areas: developing AI and ML technology, building a stellar team for innovation, building a sound community of creators and consumers, and expanding into newer categories such as babycare, homecare, apparel, and more.
Currently, there are over 450 million social media users in India and the space is seeing a boom of regional languages. A large number of users are unable to find relevant content in their language when it comes to commerce. This is where Trell step in to help by enabling content creators, consumers, and brands to interact on the platform and empower people with the right content.
The team believes people want to buy products backed by their favourite influencers and celebrities, while celebrities and influencers also want to launch their own brands.
Trell’s aim is to “matchmake brands with the right partners” so that they can “grow through the platform and reach relevant customer groups”. In addition to that, regional influencers and celebrities can also launch their brands for the target audience.
In September 2021, Trell had acquired Womaniya — the community that helps empower women to become self-aware when it comes to wellness and self-care. The acquisition is aimed at improving efficiency, helping, and facilitating collaborations among the women's community.
The platform’s aim is to cross $1 billion Gross Merchandise Value (GMV) in the next 18-24 months. The social commerce platform is already seeing almost 30 percent month-on-month growth on the platform.