Indian lifestyle-focused social commerce platform Trell has raised US$45 million in a Series B round led by Mirae Asset, H&M Group, and LB Investments.
KTB Network, Samsung Ventures, and Fosun RZ Capital also participated in the funding round. To date, Trell has raised US$62 million in funding.
Trell said it plans to use the capital to further develop its artificial intelligence and machine learning-based technologies. “Further, the funds will also help with the growth of community and commerce initiatives,” the company said in a statement.
Launched in 2017, Trell started as a mobile-focused video blogging platform. In August 2020, the company introduced its social commerce feature, allowing users to purchase beauty, personal care, and wellness products via the influencers’ videos on its platform.
The company said that it onboarded more than 500 personal care and beauty brands, including L’Oreal and Garnier in the last few months. In addition, it has recorded a 10x to 15x year-on-year growth and a 30% month-on-month growth on its transactions.
According to Trell, the platform has more than 50 million monthly active users. Its content library features videos in as many as eight regional languages, generating more than 20 billion monthly views.
The latest fund will also allow the company to expand its offerings to include apparel, home care, and mom and baby care categories in the months to come.
Trell raised US$11.4 million in its series A round in August last year. KTB Network led the round, and Sequoia’s Surge, Fosun RZ Capital, and WEH Ventures also participated.
Earlier this month, another Indian social commerce startup, DealShare, raised US$144 million in its latest funding round at a valuation of US$455 million.
Walmart-owned Indian e-commerce major Flipkart also announced the launch of its social commerce platform Shopsy this month.