Young eCommerce Startup Simsim Pockets USD16Mn within 6 Months of Operation
New Delhi-based everyday social commerce startup, Simsim secured USD16 million in three funding rounds within six months of its operation. This financing is pooled in quick series past the last seven months led by Accel Partners, Shunwei Capital, and Good Capital. The existing investors of the company successfully led the current series as well.
The startup will use the funds received to expand its network of influencers by onboarding 100k of them, and further build its technology platforms.
The startup will use the funds received to expand its network of influencers by onboarding 100k of them, and further build its technology platforms.
With the Series B financing, the company is claiming to add several other languages on to the portal.
“The Indian consumer is used to a very different shopping experience offline-one which is social and highly interactive, Of course, all these interactions is in local language and dialects. It is this experience and method of shopping which we are replicating at Simsim,” Amit Bagaria, co-founder.
He further added, “Despite e-commerce players bandying out major discounts, most of the sales in India are still happening in brick-and-mortar stores. There is a simple reason for that: Trust,” explained Amit Bagaria,
Simsim is taking a diverse strategy to seize this opportunity. On its app, users view short-videos created in local languages by influencers who apply beauty products or try out attires, apparels and explain everything about the products. Below the video, the items appear as they are being discussed and users can tap on them to proceed with buying.
“The Indian consumer is used to a very different shopping experience offline-one which is social and highly interactive, Of course, all these interactions is in local language and dialects. It is this experience and method of shopping which we are replicating at Simsim,” Amit Bagaria, co-founder.
He further added, “Despite e-commerce players bandying out major discounts, most of the sales in India are still happening in brick-and-mortar stores. There is a simple reason for that: Trust,” explained Amit Bagaria,
Simsim is taking a diverse strategy to seize this opportunity. On its app, users view short-videos created in local languages by influencers who apply beauty products or try out attires, apparels and explain everything about the products. Below the video, the items appear as they are being discussed and users can tap on them to proceed with buying.