India-based social commerce app Kiko TV raises pre-series A funding led by SOSV

Tuesday 26 January 2021 14:25 CET | News

India-based social commerce startup Kiko TV had raised an undisclosed amount in a pre-series A funding round led by US-based VC firm SOSV.

According to TechInAsia, the startup revealed that the round was still open, as a few other investors are expected to participate. Founded in August 2020, Kiko TV offers an interactive entertainment video app that enables its users to shop online from sellers showcasing their products. It also gives influencers on the platform incentives such as commissions.

Furthermore, the company stated that although India has almost half a billion internet users – with less than 10% making purchases online – traditional ecommerce lacks instant buyer-seller interaction, an issue that Kiko TV aims to solve through its platform. Consequently, Kiko TV plans to use the new funds to speed up product development and gain more users, TechInAsia reported.

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Keywords: Kiko TV, funding round, fundraising, India, social commerce, ecommerce, online shopping
Categories: Payments & Commerce
Countries: India
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