Retail-Tech Start-up ShopConnect $1.5 Million in Pre Series Funding Round
ShopConnect, a retail-tech incubator has secured USD 1.5 million in pre series round funding led by IBS Technology & Consulting Services. Mr VK Mathews' holding business, of which he is the founder and executive chairman of IBS Software.
According to an official release, the company plans to utilise the cash to expand its operations in India, the United States, and Europe, accelerate product and technology innovation, and invest more in R&D activities to continually improve its IP asset portfolio.
ShopConnect helps brands and retailers of all sizes create next-generation online stores with features like live video shopping and hyper-personalization to enhance shopper engagement and future-proof their companies.
ShopConnect's Founder and CEO, Dilli Babu Nandarapu, is ecstatic with the new development, said, "we will use the investment to enhance our core capabilities to grow our customer base. We will advance R&D to introduce exciting new solutions within the rapidly growing retail tech industry and expand our operations in the domestic and international markets. It is a highly competitive market place and our focus will be to empower our customers, enabling brands and retailers to emerge stronger in this era of ever-evolving consumer behaviour driven by personalisation. We aim to onboard 2500+ premium brands in fashion & accessories, footwear, jewellery, furniture, and electronics across India and other geographies in the next three years."
He further said, "The next big trend that we observe in the retail space is video enabled commerce that has a lot of potential to attract next generation consumers. It is indeed an exciting space for ShopConnect to be in as the market is expected to reach $4-5 billion by 2025 in India."
Premium fashion and retail brands such as Titan Industries (US), Highline United (US), Designer Ridhi Mehra, Kavitha Gutta, Style, and Neena Patial are among ShopConnect's famous clientele.
ShopConnect, based in Bangalore, enables companies and retailers of fashion and accessories, footwear, jewellery, furniture, and electronics to sell their products online.
According to an official release, the company plans to utilise the cash to expand its operations in India, the United States, and Europe, accelerate product and technology innovation, and invest more in R&D activities to continually improve its IP asset portfolio.
ShopConnect helps brands and retailers of all sizes create next-generation online stores with features like live video shopping and hyper-personalization to enhance shopper engagement and future-proof their companies.
ShopConnect's Founder and CEO, Dilli Babu Nandarapu, is ecstatic with the new development, said, "we will use the investment to enhance our core capabilities to grow our customer base. We will advance R&D to introduce exciting new solutions within the rapidly growing retail tech industry and expand our operations in the domestic and international markets. It is a highly competitive market place and our focus will be to empower our customers, enabling brands and retailers to emerge stronger in this era of ever-evolving consumer behaviour driven by personalisation. We aim to onboard 2500+ premium brands in fashion & accessories, footwear, jewellery, furniture, and electronics across India and other geographies in the next three years."
He further said, "The next big trend that we observe in the retail space is video enabled commerce that has a lot of potential to attract next generation consumers. It is indeed an exciting space for ShopConnect to be in as the market is expected to reach $4-5 billion by 2025 in India."
Premium fashion and retail brands such as Titan Industries (US), Highline United (US), Designer Ridhi Mehra, Kavitha Gutta, Style, and Neena Patial are among ShopConnect's famous clientele.
ShopConnect, based in Bangalore, enables companies and retailers of fashion and accessories, footwear, jewellery, furniture, and electronics to sell their products online.
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