WMall to raise fresh funding up-to $7 Mn round led by Chiratae

Prior, the Bengaluru-based firm had brought around $2 million in Series A value financing round in February this year. Social commerce startup WMall is raising a fresh funding round of around $5-7 million, as per a report by Entrackr. Sources claimed that the funding round is being driven by Chiratae with cooperation from existing financial specialists SAIF Partners and Venture Highway on a pro rata premise. Earlier, BulBul Shop, EkAnek, and SimSim had raised decent investment.

The sources close to Entrackr further added, “Chiratae is leading the round while existing investor SAIF Partners and Venture Highway will invest on a pro-rata basis.” Further concluding, “Due diligence was completed by Chiratae last month, and contours of the transaction has been finalised. It’s likely to be announced soon.”

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Prior, the Bengaluru-based firm had brought around $2 million in Series A value financing round in February this year. WMall sells items through a mix of video and content. It basically influences WhatsApp, YouTube to drive outsider items in two vernacular dialects – Gujarati and Hindi. The firm fundamentally centers around way of life, home stylistic layout, clothes and kitchen basics.

WMall as of late presented an element called ” Shopping Saheli” where influencers can transfer recordings of the items alongside their utilization cases. Other than the electronic stage, it additionally has an Android application that has more than 50,000 downloads with a rating of 4.1 on the Play store.

Considering the fact, there have been numerous activities going on alternate e-commerce space (social plus video-focused commerce). After the early achievement of Meesho, a large number of social business startups has been drawing in the consideration of blue-chip institutional investors.