Short Video E-commerce Platform Kiko TV Raises Seed Funding From 9Unicorns, Angel Investors
KIKO will use the fresh capital to build and improve its technology and expand customer base
Kiko TV, an AI-powered short live video e-commerce platform, has raised undisclosed seed funding led by accelerator venture capital firm 9Unicorns.
A clutch of investors, including Vinayak Srivastava and Saket Dandotia (Co-founders, Toch), Sunil Kumar Singhvi (Managing Partner at Singhvi Heritage LLP) and Srinivas Kotta (Senior Technical role at Adobe) also participated in the round.
Kiko TV was launched by IIT Bombay alumni Shivam Varshney and Alok Chawla following the Indian government’s ban on Chinese apps that included short-video platform TikTok. Its interactive entertainment mobile application offers users live shopping experience as they view, like and share videos while shopping on the app.
Additionally, online retailers and influencers can create content for marketing, branding and sales while enabling a one-on-one live selling session with the potential buyers.
“Social platforms today have turned into quick and convenient distribution channels for businesses. This new-age trend of social commerce is transforming the retail and e-commerce sector by influencing customers’ purchase decision and habits,” said Apoorva Ranjan Sharma, co-founder and MD, 9Unicorns.
“KIKO TV has great opportunity in this emerging market and the potential to reshape India’s e-commerce landscape for the better. We hope that the funding fuels their vision of unlocking a more efficient and advanced future of sales and marketing for countless online businesses in India and beyond.”
As per founder Varshney, KIKO will use the fresh capital to build and improve its technology and expand customer base.
In August, Kiko TV had raised USD 300,000 funding from 9point8, Sunil Kumar Singhvi and other High Net-worth Individuals (HNIs).