Social Commerce platform Trell raises $45 million led by Mirae Asset & Others
Trell, a social commerce platform, announced that it has raised $45 million in a Series B round led by Mirae Asset, H&M Group, and LB Investments. This round was also attended by existing investors, as well as KTB Network, Samsung Ventures, and Fosun RZ Capital.
Trell has raised a total of $62 million in funding to date with this round. The capital will be used by the startup to expand its AI and ML technologies across regional languages, strengthen its team, and expand its community and commerce initiatives.
“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,” says, Pulkit Agrawal, Co-founder and CEO, Trell.
Trell provides a platform for millions of Indians to connect with like-minded people, discover lifestyle trends, and share content based on their interests and passions in categories such as beauty, fashion, wellness, health, food, TV reviews, travel, and gadgets.
The startup's extensive content library includes videos in eight regional languages that have received over 20 billion monthly views. It claims that its app has more than 100 million downloads and more than 50 million monthly active users.
The social commerce platform plans to launch six more languages by the end of 2021, expanding its footprint to over 2,000 cities and towns in India.
Nanna Anderson, Head of H&M CO:LAB, H&M Group’s Investment arm, said, “Trell has shown impressive growth over the years, and we believe that it has the potential to become a global leader in this space. We are excited to be a part of their journey, supporting the founders and the team in their vision.”
Trell launched its social commerce section on the app in August 2020, allowing users to watch personalised product recommendations across beauty, personal care, and wellness categories, which they can purchase directly from the app.
The startup has also experienced 10X-15X yearly growth and 30% monthly growth in transactions.
With the new funds, it also plans to expand its commerce operations in the coming months by entering the apparel, home care, and mom and baby-care categories.
Ashish Dave, Mirae Asset-Naver Asia Growth Fund, said, “Trell’s roadmap and vision of empowering millions of Indian’s to become micro-entrepreneurs have really resonated with us, and we are glad to see the love that the platform has witnessed this past year. The team has an in-depth understanding of the diversity across the country, which is the need of the hour. We believe the impact of the platform in the social commerce ecosystem is going to revolutionise the way people connect and consume content online, thereby helping them make more informed lifestyle choices and purchase decisions.”
Trell has raised a total of $62 million in funding to date with this round. The capital will be used by the startup to expand its AI and ML technologies across regional languages, strengthen its team, and expand its community and commerce initiatives.
“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,” says, Pulkit Agrawal, Co-founder and CEO, Trell.
Trell provides a platform for millions of Indians to connect with like-minded people, discover lifestyle trends, and share content based on their interests and passions in categories such as beauty, fashion, wellness, health, food, TV reviews, travel, and gadgets.
The startup's extensive content library includes videos in eight regional languages that have received over 20 billion monthly views. It claims that its app has more than 100 million downloads and more than 50 million monthly active users.
The social commerce platform plans to launch six more languages by the end of 2021, expanding its footprint to over 2,000 cities and towns in India.
Nanna Anderson, Head of H&M CO:LAB, H&M Group’s Investment arm, said, “Trell has shown impressive growth over the years, and we believe that it has the potential to become a global leader in this space. We are excited to be a part of their journey, supporting the founders and the team in their vision.”
Trell launched its social commerce section on the app in August 2020, allowing users to watch personalised product recommendations across beauty, personal care, and wellness categories, which they can purchase directly from the app.
The startup has also experienced 10X-15X yearly growth and 30% monthly growth in transactions.
With the new funds, it also plans to expand its commerce operations in the coming months by entering the apparel, home care, and mom and baby-care categories.
Ashish Dave, Mirae Asset-Naver Asia Growth Fund, said, “Trell’s roadmap and vision of empowering millions of Indian’s to become micro-entrepreneurs have really resonated with us, and we are glad to see the love that the platform has witnessed this past year. The team has an in-depth understanding of the diversity across the country, which is the need of the hour. We believe the impact of the platform in the social commerce ecosystem is going to revolutionise the way people connect and consume content online, thereby helping them make more informed lifestyle choices and purchase decisions.”
