Shopr.TV, a live-commerce platform secures $ 1.7 million as seed capital from global institutional investors including BEENEXT, Y-Combinator, Locus Ventures, Shiprocket, Goodwater Capital, and more.
Angel investors such as Kunal Shah (CRED), Lalit Keshre (Groww), and Venky Karnam (Afore Capital), amongst others, are also a part of the round.
Shopr.TV will invest the money in its technology, product, and team.
Founded in 2021 by Akhil Suhag, Akshay Suhag, Mukul Anand, and Tushar Dhara, Shopr TV is a dedicated live commerce platform that allows users to buy products directly from a livestream.
Akhil Suhag, Co-founder and CEO of Shopr.TV, said, “Live commerce is the natural next step in the evolution of e-commerce, and it has the potential to revolutionise the entire consumer experience. There is a refined layer of accessibility, credibility, and reliability that live-commerce brings to the online buyer-seller relationship. Our ambition is to create for India a shopping experience that’s engaging, highly interactive, and veritable. We have the right product, the right team, an enthusiastic market, and now the perfect partners who share our vision of transforming the way India shops.”
Hero Choudhary, Managing Partner at BEENEXT, said, “We believe the live-commerce model is entertaining, immersive, and poised to keep consumers engaged as a new form factor for commerce. Sellers can optimise sales in real time through better inventory management while interacting with their customers directly.”
“At BEENEXT, we are enthusiastic about the Shopr.TV founding team and how they weave the thread of customer decision journeys from awareness to purchase, with the finesse of their product experience. We are excited to be a part of Shopr.TV’s journey to make the commerce experience more engaging while driving better conversion for sellers.”
According to a McKinsey report, live commerce could contribute 10-20% of all e-commerce sales by 2026. According to a RedSeer report, the live commerce market could become worth as much as $5 billion by 2025.