Social E-Commerce Platform ‘ShopG’ Raises $1.5 Million In Seed Funding
ShopG, a Social eCommerce platform has raised $1.5 million seed funding round led by Orios Venture Partners and RPSG Ventures.
The funding round also saw participation from angel investors, including Alibaba; Rajesh Yabaji (CEO of Blackbuck), Raghunandan G (former CEO of Taxi for Sure) and Prasanth Nair.
As per the startup, the raised funds will help ShopG expand its community leader network in lower-tier cities, scale its technology, build a supply of small regional brands, and help create a suite of D2C-branded products.
Started by Ankur Arora, Pranay Suwalka, Abhishek Mishra, and Yogesh Nehra, ShopG is a Social eCommerce platform that caters mostly to Tier III and IV cities.
Shop G is ‘building eCommerce 2.0 for Bhaarat’ and changing the way next 500 Mn Indian Internet Customers Shop.
Talking about the next internet customers, Co-founders Ankur and Abhishek said,
“The next 500 million internet customers, from Tier3/4 cities of India, who earn an average household income of Rs 25,000-30,000 per month, prefer assisted buying from someone they trust and have low average order values of less than Rs 250 — making it impossible for existing eCommerce players like Amazon, Flipkart, etc., to service them with high customer acquisition and supply chain costs.”
ShopG expects to continue seeing exponential growth, as social commerce is set to become a $25 billion market by 2025.
Presently, the startup has over a thousand community leaders that work with regional brands to source goods and help in making the platform better.
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