Indian social commerce platform Trell, owned by Bengaluru-based Trell Experiences Pvt. Ltd, has raised $45 million in a series B round of funding led by financial group Mirae Asset, H&M Group and co-led by LB Investments. With the closing of this round, Trell’s total funding raised reached $62 million. Along with KTB Network, previous investors Samsung Ventures and Fosun RZ Capital participated in this round.
It is the first Indian investment by the H&M Group, which owns fashion retail brand H&M, COS and Monki.Indian social commerce platform Trell has raised $45 million in a series B round of funding led by financial group Mirae Asset, H&M Group and co-led by LB Investments. With the closing of this round, Trell's total funding raised reached $62 million. Along with KTB Network, previous investors Samsung Ventures and Fosun RZ Capital participated in this round.#
Social commerce refers to the buying and selling of goods or services directly within a social media platform.
“Trell has enabled millions of Indian language internet users to discover and buy lifestyle trends and we are grateful to have a community that has shown us incredible support, which has further fueled our need to diversify content creation, commerce in India and create sustainable opportunities for wealth creation and economic growth,” Pulkit Agrawal, co-founder and chief executive officer of Trell, was quoted as saying by Indian media reports.
He said that in addition to expanding artificial intelligence and machine learning capabilities in regional languages, the new funding will be used in getting the best talent on board. “Data science and engineering is one area where we will be investing significantly,” said Agrawal.
Trell will also be investing in community activities where it will encourage content creators to make a living through Trell by creating good content.
The social commerce platform has more than 100 million downloads and over 50 million monthly active users on its app.
It features videos in eight regional languages garnering over 20 billion monthly views. By the end of this year, the platform is planning to launch in six more languages, expanding its footprint to over 2,000 cities and towns across India.
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