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Social e-commerce start-up KikoTV has raised an undisclosed sum through a pre-Series A funding round led by global venture capital firm SOSV with participation from Venture Catalysts.
The round also saw participation from Neil Bahal, CEO of Negen Capital, and other prominent angels.
ShivamVarshney, Co-founder and CEO of KIKO TV said: “Our plan is to use the funding to speed up the seller on-boarding process, develop the product, and expand the team”.
KikoTV is a live-streaming social e-commerce platform that enables users to virtually shop, sell and access entertainment. It was founded by ShivamVarshney, an alumnus of IIT Bombay, and Alok Chawla, an MBA from NMIMS.
Anil Jain, Co-founder of Venture Catalysts said, “On the back of its unique service offering, KikoTV is poised to disrupt a burgeoning social commerce market whose GMV is currently pegged between $1.5 billion and $2 billion, and is projected to hit a valuation of $16-20 billion in the next five years. The founding team’s commitment to achieving its short- and long-term goals is commendable and makes us confident in our investment”.
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