Kiko TV, which helps consumers to buy products through shoppable videos, has just raised an undisclosed amount of funding in a pre-series A round. US venture capital fund SOSV spearheaded the funding round. The company said that that the round is still open and few other investors are expected to co-invest in the round.
However, the company refused to divulge any details about these investors.
The Mumbai based startup will use the funds to accelerate the product roadmap and increase adoption. KIKO TV recently raised their seed funding round from 9Unicorns and this is their second fund-raising round.
Commenting about the round, Shivam Varshney, Co-founder and CEO of KIKO TV said “We are extremely elated to be part of the SOSV MOX family, as the MOX program provides not only funding but also a lot of training to scale the business and access to their global mentor network. As the speed of internet available on all devices grows, and as the widespread use of 5G technology is becoming inevitable, live video commerce will be the future of shopping. It is our vision to be a market leader in this category,”
William Bao Bean, General Partner at SOSV, Managing Director of MOX, said “Live video is the logical evolution of e-commerce and shopping habits. There are enormous opportunities for mobile-first players, and we cannot think of a better team to work with than KIKO TV.”
About KIKO TV
Kiko TV was launched in August last year and claims to be among the first mover in the niche live commerce space. KIKO TV plans to disrupt the mobile commerce space with live shopping and live interactions between sellers and buyers, taking the native shopping experience to the virtual mobile screen.
Live commerce along with social commerce is expected to unleash the next revolution in the e-commerce sector. Live commerce is already a huge thing in China and is expected to exceed USD 150 billion market value in 2020. India is expected to slowly but steadily catch with China.