Social ecommerce platform Shop101 has raised $5 Mn in funding in a round led by Stellaris Venture Partners. Vy Capital, TaxiForSure co-founder Raghunandan G, and Livspace co-founder Ramakant Sharma also participated in Shop 101’s funding round.
Shop101 was founded by Abhinav Jain and Aditya Gupta in 2015 and was officially launched in early 2016. It enables entrepreneurs to sell online as well as on WhatsApp, Facebook and Instagram with zero investment by providing an online store in less than two minutes.
Established merchants, as well as budding entrepreneurs including housewives, college students and young graduates, can put up their own products or resell from an extensive range of products available on the Shop101 Supply platform.
Rahul Chowdhri, Partner, Stellaris Venture Partners said, “Social commerce provides a more human touch to an online selling experience and opens up a new set of opportunities by tapping into the next 500 million users by providing a layer of trust, and curation. With a deep focus on technology, Shop101 enables entrepreneurs to sell on social platforms and to procure supply directly from manufacturers and brands,.”
As a part of the transaction, Rahul will join the company’s board.
The Shop101 mobile app also enables lakhs of sellers across India to sell online seamlessly within minutes by providing end to end order processing, inventory management, pan-India logistics (including cash on delivery), payment support, and a wide-range of supply.