SimSim Bags Series B To Expand Video Commerce Play, Build Influencer Community
Summary
With the Series B funding, it will be adding support for more languages With increased penetration of smartphones along with cheaper internet plans, Indian ecommerce has seen rampant growth in the past half a decade. Launched just seven months ago, SimSim has announced raising $8 Mn in Series B funding round from Accel Partners and Shunwei Capital. However, the catch here is that instead of being a simple online marketplace, the startup is banking on videos to reach more customers, engage them in a more meaningful manner and thereby get them to shop again. While initially, SimSim supported English, Hindi, Tamil, and Bengali, Bagaria said the new funds will help it add more languages on the platform. This will be another focus area for the company in the new year as it looks to improve its technology backend and it will invest some part of the recently raised fund towards it as well, Bagaria added.