Octoly raises €9 million to open mini online shops for social media influencers - EASME European Commission
Summary
The €9 million investment includes € 1.75 million received from the SME Instrument and will help Octoly to launch Octoprime, a platform that will enable influencers to create their own online stores to sell the products they review. They can browse through a selection of products from 200 brands and use them to create original content on social media. For the moment the influencers, receive products for free but are not paid to do the reviews. It received an SME instrument Phase 1 grant in in 2016 and hasnt stopped growing since. Octoly works with the biggest beauty and fashion brands in the world and connects them with more than a billion viewers through the influencers.
Funding
Amount
$10.0M
Total raised
Date
November 13, 2017
Announcement date
Investors
Otium Venture
Lead investors
Company
http://www.octoly.com
Funded company
Classifications
industries
No industries detected
applications
Data Management
AskAI Classifications
Labels
No AI classifications detected
Linked Companies
Octoly
$10M to $25M