[YS Exclusive] Social commerce platform Trell raises $ 100 million for valuation of nearly $ 800 million
Founded in 2016, Bengaluru-based social commerce platformis in talks to lift $ 100 million in financing led by the e-commerce giant – , and other investors, revealed sources close to the development.
With this new funding, the valuation of the startup will reach between 600 and 800 million dollars. In July 2021, the startup had raised $ 45 million in a Series B funding round led by investors such as Mirae Asset and H&M, among others.
Trell focused on investing in four different areas: developing AI and ML technology, building an exceptional team for innovation, building a strong community of creators and consumers and expansion into new categories such as baby care, home care, clothing, etc.
Currently there are more 450 million social media users in India and the space is experiencing a regional language boom. A large number of users are unable to find relevant content in their language when it comes to commerce. This is where Trell comes in to help by enabling content creators, consumers and brands to interact on the platform and give people the right content.
The team believes people want to buy products backed by their favorite influencers and celebrities, while celebrities and influencers want to launch their own brands as well.
Trell’s goal is to “match brands with the right partners” so that they can “grow across the platform and reach relevant customer groups”. In addition to this, regional influencers and celebrities can also market their brands to the target audience.
By September 2021, Trell had acquired Womaniya – the community which helps women to become aware of themselves when it comes to well-being and personal care. The acquisition aims to improve efficiency, assist and facilitate collaborations within the women’s community.
The objective of the platform is to cross 1 billion gross value of goods (GMV) over the next 18-24 months. The social commerce platform is already seeing almost 30% monthly growth On the platform.