Social commerce startup Woovly secures funding from Sony Innovation Fund, SOSV
The funding round will enable Woovly to improve its platform and continue its mission of providing a seamless and engaging social commerce experience to users.
Social commerce platform has secured undisclosed funding from investors such as , , , and ViNners.
The Bengaluru-based startup plans to use the fresh capital to improve its platform and provide a seamless and engaging social commerce experience to users.
"We are thrilled to be part of Woovly’s journey and support their vision for shaping ‘content-driven commerce’. Their innovative integration of immersive video content and seamless shopping experiences truly sets them apart and well positions them to capitalise on the growth of India’s digital retail sector," said Gen Tsuchikawa, CEO and Chief Investment Officer of Sony Ventures Corporation.
He added, "We look forward to supporting the team as they pursue their next stage of growth.”
Woovly, launched in 2020 by Neha Suyal and J Venkat, primarily caters to millennials living in Tier II and III cities. It offers a one-stop destination for discovering and buying beauty and personal care products. Woovly combines shopping with immersive video content, ensuring audience engagement and simplifying the purchasing process.
The platform aims to tap into the 200 million consumers of short content. Woovly says it has seen a 600% increase in user base over the past 18 months and a 500% expansion in recent years due to its use of micro and nano influencers and engaging short video content.
It plans to expand its reach and explore new market segments like fashion, home decor, and lifestyle, demonstrating innovation and adaptability.
Edited by Affirunisa Kankudti