Social e-commerce startup Shop101 is in advanced stages of raising USD 10-12 million from the venture capital arm of consumer goods giant Unilever, home-grown investor Kalaari Capital and other investors. The firm's latest round of equity financing comes less than four months after it secured USD 5 million in a Series-A fundraise, signalling the growing investor interest in ventures enabling social commerce.
The company's existing backers, including Stellaris Venture Partners and Vy Capital, will also participate in the latest funding on a pro-rata basis.
Shop101 plans to raise more capital in the first half of 2019, the sources said.
Source: The Economic Times