Simsim, a social commerce startup in India, stated Friday it has raised $16 million in seven months of its existence as it makes an attempt to replicate the offline retail experience in the digital arena with help from influencers.
The Gurgaon-based startup stated it raised $16 million across seed, Series A, and Series B funding rounds from Accel Partners, Shunwei Capital, and Good Capital.
The overwhelming majority of Indians are nonetheless not comfortable with reading descriptions — and that too in English, he stated.
Simsim is taking a unique approach to tackle this opportunity. On its app, customers watch short-videos produced in local languages by influencers who apply beauty products or check out dresses and explain the ins-and-outs of the products. Below the video, the objects appear as they’re being discussed, and customers can click on them to proceed with the purchase.
Influencers sometimes sell a range of things, and users can follow them to browse through the previous catalog and stay on prime of future sales, stated Bagaria, who previously worked at the e-commerce enterprise of financial services corporation Paytm.
Simsim handles the records, which it sources from manufacturers, and it works with numerous logistics players to ship the products.
The platform is working with over 1,200 influencers, who get a commission for each item they sell, mentioned Bagaria, who plans to grow this figure to 100,000 in the following years.