Mumbai: Social commerce startup Gobillion has raised $2.9 million in seed funding round led by YCombinator, Tinder founder Justin Mateen, Pioneer Fund and others, the company said.

The company will use the funds to ramp up its business expansion plans, launch more categories, and strengthen its operations, product development, and technology teams.

Other marquee global investors who participated in the round include Soma Capital, Goodwater Capital, Olive Tree Capital, Chris Golda Investments, Oliver Jung, Venture Souq, Shanti Mohan (founder – LetsVenture) and Vikas Choudhury (president, Reliance Jio).

Founded in 2020 by Roshan Farhan and Kulapradip Bharali, Gobillion enables customers to buy together in social groups and unlock deals.

“The company aims to build extensive social and gamified e-commerce experience that can best cater to the needs and aspirations of customers in small towns in India and South-East Asia,” it said in a release. The company is targeting the next 400 million customers living in tier II cities in India.

“The next frontier of growth and opportunity is enabling commerce for customers in small towns in India – we are well-positioned to unlock rapid growth and delight customers with our offerings. We will be leveraging the capital to put our long-term plans into action and create a strong foundation for our business,” said Roshan Farhan, cofounder and CEO, Gobillion.

  • “ETtech is a sharply-focused lens that brings alive India’s tech businesses & dynamic world of startups”

    Kunal Bahl, Co-Founder & CEO, Snapdeal

  • “I read ETtech for in-depth stories on technology companies”

    Ritesh Agarwal, Founder & CEO, Oyo

  • “I read ETtech to understand trends & the larger India technology space, everyday”

    Deepinder Goyal, Co-founder & CEO, Zomato

Gobillion will launch its services across 12 cities in the next 18 months while scaling across 100 more cities in the upcoming four to five years, it said.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

Source link

Posts created 459

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top