Mumbai Based Social Commerce Platform ‘Shop101’ Raises Funding Of Rs 17.2 Crore
Social commerce platform Shop101 has raised Rs 17.2 crore in its ongoing Series C funding round from its existing investors Kalaari Capital, Vy Capital, Unilever, and Stellaris.
The company plans to use the fresh funds to streamline its operations, which have been affected due to COVID-19 induced nationwide lockdown.
As per regulatory filings, Shop101 has allotted 101,266 Series C1 CCPS at an issue price of Rs 1,720 per share to Stellaris, Unilever, Kalaari Capital, and VY Capital.
While Vy Capital has infused Rs 8.3 crore, Kalaari has infused Rs 2.76 crore in Shop101, other investors have invested nominal amounts.
Founded by Abhinav Jain, Aditya Gupta, and Kalpak Chhajed in 2015, Shop101 is a Mumbai based social commerce platform that enables entrepreneurs to sell online as well as on WhatsApp, Facebook, and Instagram with zero investment by providing an online store in less than 2 minutes.