Social Commerce Platform SimSim Gets $16 Million In Fresh Funding

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SimSim

New Delhi-based social commerce firm SimSim has announced bagging $16 million in its Series B round funding from its existing backers, China’s Shunwei Capital and venture capital firm Accel Partners.

Before this round, Accel India and Shunwei Capital had led $6 million Series A round. The current infusion takes the total amount raised by the company to nearly $16 million. Good Capital, Samrath Bedi, Suhail Sameer, Sunil Kalra, Gautam Kumra and Anupam Mittal are the other backers who have infused capital in the company.

Founded in 2018 by Amit Bagaria, Kunal Suri, and Saurabh Vashishtha who had previously worked with Paytm and Foodpanda. Through its video commerce platform, the company sells products online via a video catalog. The company currently focuses on tier-2 and tier-3 cities where it has 30,000 stock keeping units, across the fashion, lifestyle and home categories.The platform is currently available in 4 languages that includes Hindi, Tamil, Bengali, and English. However, by the end of this year, the firm claims to start offering services in 20 different languages.

Amit Bagaria, the co-founder of the firm said that “The Indian consumer is used to a very different shopping experience offline — one which is social and highly interactive…Of course, all these interactions are in the local language and dialects. It is this experience and method of shopping which we are replicating at Simsim."

Rohan Malhotra, the managing partner at Good Capital commenting on the deal said, “In addressing the next couple of hundred million people who are coming online, Simsim has found a way to emulate that comfort and behavior and bring these users meaningfully online."

 

Image courtesy : Google Play

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