Social Commerce Startup ‘GlowRoad’ Raises $7 Million From Its Existing Investors
GlowRoad, a social commerce startup, has raised $7 million in a fresh funding round from its existing investors.
First reported by entrackr, Accel Partners has invested in $3 million, while Singapore-based Vertex Ventures has infused $2 million, regulatory filings in Singapore show. IND Fund has invested $2 million.
It is to be noted that the transaction was executed in May.
Started in 2017 by Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu, and Nilesh Padariya, GlowRoad is a social commerce startup that provides earning opportunities for Indian women and small businesses.
The startup gives users access to a virtual shop, millions of products from trusted suppliers, payments and shipping facilities, thereby removing the hassles of starting an online business.
This fresh funding is the maiden financing for the Bengaluru-based startup in 2020. City Mall and BulBul are the two other companies in this segment that have raised funds in 2020.
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