ShopG funding: ShopG secures $1.5 million in funding from Orios VP and RPSG Ventures

Social e-commerce platform ShopG has raised a $1.5 million seed spherical from Oreos Enterprise Companions and RPSG Ventures.

The funds might be used to increase the group chief community in Tier III and IV cities, improve expertise, provide smaller regional manufacturers and construct a collection of D2C branded merchandise, the corporate stated in a launch.

Angel traders reminiscent of BlackBuck CEO Rajesh Yabaji, former TaxiForSure CEO Raghunandan G and former Flipkart government Prashant Nair additionally participated within the spherical.

Began in November 2019, ShopG has constructed a social commerce platform powered by micro-entrepreneur group leaders focusing on the subsequent 500 million clients. ShopG was based by Ankur Arora, Abhishek Mishra, Pranay Suwalka and Yogesh Nehra with earlier expertise in constructing and scaling startups like Cleartax, Ola, Rivigo, Delhivery.

At the moment, ShopG has over 1000 group leaders serving over one million clients in a Tier III metropolis and the enterprise has confirmed profitability within the metropolis.

“The following 500 million Web clients in India’s Tier III and IV cities, incomes a mean family revenue of Rs 25,000-30,000 per 30 days, choose assisted buying from somebody they belief and greater than Rs 250 Have a low common order worth (AOV). , ShopG co-founders Ankur Arora and Abhishek Mishra stated, “It’s making it inconceivable for current e-commerce 1.0 gamers like Amazon, Flipkart and so forth. to serve them with excessive buyer acquisition and provide chain prices.”

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Our community of group leaders, who’re principally ladies, encourage belief in addition to serve them with zero buyer acquisition prices and a 10X higher provide chain. ShopG companions with regional/small manufacturers that provide good high quality merchandise however have restricted distribution attain. These merchandise are made out there to the purchasers by group leaders at nice costs and made conscious.”

“Social commerce is at the moment value $1.5 billion – $2 billion in India and can develop to $25 billion by 2025 or earlier relying on smartphone possession, which has crossed 500 million accelerated by Covid in 2020. Nearly all of this development has are available in Tier III cities,” stated Anoop Jain, Managing Companion, Orios Enterprise Companions. “In China, social commerce makes up about 12% of retail and has created 4 unicorns with greater than 20 funded corporations prior to now 5 years.”

Abhishek Goenka, Head and CIO, RPSG Ventures, stated, “ShopG’s enterprise mannequin presents a singular approach to serve AOV Tier III and IV clients with industry-leading buyer acquisition prices and low logistics prices.

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