Bulbul raises $8.7 million funding led by Information Edge, Know-how Information, ETtech
Bulbul, a video and livestream-led commerce platform, has raised $8.7 million financing led by Naukri mother or father Information Edge.
In a inventory market submitting, Information Edge mentioned it has invested about $6.33 million (about Rs 47.three crore) in Bulbul to select up 17.82% stake on a totally transformed and diluted foundation. This funding has been made by means of the corporate’s just lately launched $100 million enterprise capital fund.
The remaining capital has been pumped in by present buyers. Bulbul counts Sequoia Capital India’s Surge and Leo Capital amongst its buyers.
“The IE Enterprise Fund I has acquired/agreed to amass 416 bizarre shares and a pair of,002 collection A1 compulsorily redeemable convertible most well-liked shares, by means of a mixture of major and secondary mode of acquisition,” Information Edge mentioned in a regulatory submitting.
Launched in December 2018 by TrulyMadly co-founder Sachin Bhatia, Gigstart co-founder Atit Jain and Hawa co-founder Sichen (Sianna) Liu, Bulbul goals to assist customers uncover new merchandise by means of a dwell and interactive e-commerce platform. It additionally options influencers who clarify the product options and work together with prospects to make clear their queries serving to them decide throughout a dwell broadcast. The corporate has generated a turnover of Rs 4.5 crore within the monetary 12 months 2020.
Flipkart had additionally forayed into influencer-led video commerce with 2GudSocial earlier this month. Different gamers on this phase embody Mall91, WMall, and SimSim.