Thursday, Feb 25 2021 | Time 18:52 Hrs(IST)
image
  • Prithvi Shaw hits 227*, highest individual score in Vijay Hazare Trophy
  • Transport minister hints bus fare hike
  • YSRCP announces candidates for MLC elections
  • PM flays DMK, Cong, says they cannot deliver good governance in TN
  • BJP chargesheet bundle of lies:Cong's Rajender Rana
  • Jal Shakti Ministry chooses 12 sites for 'Swachh Tourist Destinations'
  • Delhi govt to replace fleet of cars with electric vehicles
  • Budget focuses on development of Bihar : Tarkishore
  • Mamata rides pillion to 'Nabanna' to protest the rise in fuel prices
  • African Union approves emergency use of AstraZeneca COVID-19 vaccine
  • ACB produces chargesheet against then Naib Tehsildar in Baramulla
  • NEP 2020 aligned to 2030 agenda of sustainable development: Pokhriyal
  • PPT executes 27 MoUS worth Rs 27,450 cr ahead Maritime India Summit (MIS) 2021
  • Ruckus in Odisha assembly over Farmers, Kotia issue, House adjourned four times
  • ICC signs deal with IMG, to live stream 541 matches across three World Cups
Business Economy


SOSV leads pre-Series A funding round in live video commerce platform KIKO TV

MUMBAI, India, Jan 25, 2021 /PRNewswire/ -- KIKO TV, a company that has built a solution for live streaming video commerce for the Indian market, has raised an undisclosed amount in its pre-Series A funding round led by the US venture capital fund SOSV and will be shortly graduating from their Mobile Only Accelerator (MOX) program.

The funding round is open and a few more investors are expected to co-invest in this round. SOSV provides intellectual and financial capital to accelerate founders' big ideas and is among the world's most active and successful global investors, having delivered a net IRR over the last 20 years that puts them in the top 10% of all venture funds worldwide.



KIKO TV plans to disrupt the mobile commerce space with live shopping and live interactions between sellers and buyers, taking the native shopping experience to the virtual mobile screen. Their unique AI technology also scans entertainment content and shows suggested products for purchase by scanning products and apparel in the video being watched.



The money will be used to accelerate the product roadmap and increase adoption. KIKO TV recently raised their seed round from 9Unicorns and this is their second raise.



"We are extremely elated to be part of the SOSV MOX family, as the MOX program provides not only funding but also a lot of training to scale the business and access to their global mentor network. As the speed of internet available on all devices grows, and as the widespread use of 5G technology is becoming inevitable, live video commerce will be the future of shopping. It is our vision to be a market leader in this category," says Shivam Varshney, Co-founder and CEO of KIKO TV.



"Live video is the logical evolution of e-commerce and shopping habits. There are enormous opportunities for mobile-first players, and we cannot think of a better team to work with than KIKO TV," says William Bao Bean, General Partner at SOSV, Managing Director of MOX.



Live commerce, after taking off in China and other Asian markets, it is growing quickly in America and the rest of the world (Bloomberg). KPMG and Alibaba expected the live streaming e-commerce market in China to exceed USD 150 billion in 2020, and India is following suit (CNA).



About KIKO TV



KIKO TV was founded in August 2020 and is among the first movers in the live-video commerce sector. India has close to 500 million internet users, of which less than 10% transact online. Traditional e-commerce lacks instant buyer-seller interaction and there are also trust issues when buying from an unknown online seller. Live video commerce solves these issues, and helps stores get virtual "walk-in" customers, not just from their nearby locations, but from across the country. It also helps content creators monetize their video content.



About SOSV



SOSV is a multi-stage venture capital investor. We run multiple world-class vertical accelerator programs and provide seed, venture and growth-stage follow-on investment into superstar companies. Our unique full-stack model has delivered a net IRR over the last 20 years that puts us in the top 10% of all venture funds worldwide.



SOSV provides intellectual and financial capital to accelerate founders' big ideas for positive change. SOSV has funded over 1000 startups to date. We currently fund over 150 startups per year through our programs: HAX (hardware and connected devices), IndieBio (life sciences), Chinaccelerator and MOX (cross-border internet and mobile in Asia), dlab (blockchain, data and decentralization), and Food-X (food innovation).

(Disclaimer--Features may vary depending on the regions; subject to change without notice.)

More News

SVKM's NMIMS School of Business Management, Mumbai, Invite Applications for Its Specialized MBA programs

25 Feb 2021 | 6:45 PM

- Admissions open for MBA (Law), MBA (Real Estate Management), MBA (Part-Time), MBA (Part-Time) Social Entrepreneurship and Diploma in Social Entrepreneurship
MUMBAI, India, Feb. 25, 2021 /PRNewswire/ -- SVKM's NMIMS, a leading educational institute with a legacy of 40 years, invites applications for its highly-regarded specialized MBA programs at School of Business Management (SBM) in Mumbai. The courses on offer are MBA (Law), MBA (Real Estate Management), MBA (Part-Time), MBA (Part-Time) Social Entrepreneurship and Diploma in Social Entrepreneurship.

see more..

CSITM to co-host India Software Product Management Summit with ISPMA on 19-20 Mar

25 Feb 2021 | 6:43 PM

Bengaluru, Feb 25 (UNI) The Centre for Software and Information Technology Management (CSITM) of IIM Bangalore and the International Software Product Management Association (ISPMA) will conduct India Software Product Management Summit on 19th and 20th March.

see more..
Walmart expands Vriddhi program to UP to help MSMEs access domestic & global customers

Walmart expands Vriddhi program to UP to help MSMEs access domestic & global customers

25 Feb 2021 | 6:37 PM

Lucknow, Feb 25 (UNI) Walmart on Thursday launched a new Vriddhi e-Institute in Agra to provide small businesses in Uttar Pradesh access to skills and competencies to grow in a post-pandemic environment through online and offline channels such as Flipkart’s marketplace and Walmart’s international supply chain.

see more..
MTAR Tech IPO opens on Mar 3 , sets price band of Rs 574-575 per share

MTAR Tech IPO opens on Mar 3 , sets price band of Rs 574-575 per share

25 Feb 2021 | 6:36 PM

Hyderabad, Feb 25 (UNI) MTAR Technologies, a Hyderabad based precision engineering solutions company engaged in the manufacturing and development of mission critical precision components and critical assemblies catering to clean energy, nuclear and space and defense sectors, on Thursday announced it has set a price band of Rs 574-Rs 575 per equity share for its initial Public offering (IPO) of equity shares.

see more..

Walmart expands Vriddhi program to Uttar Pradesh to help MSMEs access domestic and global customers

25 Feb 2021 | 6:31 PM

Kolkata, Feb 25 (UNI) Walmart today launched a new Vriddhi e-Institute in Agra to provide
small businesses in Uttar Pradesh access to skills and competencies to grow in a
post-pandemic environment through online and offline channels such as Flipkart’s marketplace
and Walmart’s international supply chain.

see more..
image