VADODARA, India, September 21, 2021 / PRNewswire / – Live Commerce SaaS Platform Whirlpool raised 250,000 USD in a pre-seed funding round led by global strategic investors and US-based angel investors, Singapore, Middle East and Europe. Investors understand Asheesh Khaneja – Ex WW Executive IBM, Siddarth Razdan – Founder Indianivesh FirstBridge Fund, Sharma Vineyard – VP Brandscope (Dentsu), Nirmal Shah – Prism board, Gaurav Agarwal – Freedom Financial Network, and others.
The funds will be used to support the growth of the business by India, and leverage its multi-cloud video commerce technology platform that enables retailers to empower their in-store associates to deliver an immersive video shopping experience to a global audience. Swirl has over 100 customers in India such as Fabelle by ITC, Unlimited Fashion by Arvind, GIVA, Zariin, and recently also signed a Finnish fashion brand Ivana Helsinki.
“Wherever the end consumer is involved, online commerce will play a major role in enabling sales by bridging the online and offline divide. Right now it may be e-commerce, but if other industries such as financial services, real estate, automotive, travel and hospitality etc adapt, then we are considering potentially 1000 billion dollars opportunity at stake here, which means that video sales engagement models will occupy 10-15% of the global e-commerce market share by 2025 ”, noted Kaizad Hansotia, founder and CEO.
The company witnessed a 300% QOQ growth this year and will soon begin to lift an institutional cycle to accelerate its growth and expand to several categories beyond e-commerce, as it aims to officially enter the US and European markets by early 2022, in the aim to become one of the world’s top 5 players pushing the boundaries of technology with experiential commerce.
“I believe the Swirl Live Video Shopping solution is ready for global adoption. Its diverse use cases across multiple verticals such as fashion, beauty, lifestyle, jewelry, luxury and beyond, have an immediate impact on revenue and increased conversion rates. The return on investment is simply incredible for SMEs and large companies that are building their direct-to-consumer sales channels, ” noted Asheesh Khaneja.
Founded in 2017, by Kaizad Hansotia and Bheshaj Joshi, Swirl helps brands convert 3 times more customers using purchasable videos, live shopping and 1: 1 virtual shopping. The technology is state of the art, infinitely scalable, and contains a proprietary layer above video using Text, Chat, WhatsApp, SMS, and Voice to make the whole shopping experience human.
Swirl gives businesses full control over customer data and enables them to gain real-time engagement analytics and post-show data points to optimize campaigns for future sales. Plus, it easily integrates with any website, be it on Shopify, WooCommerce, or any custom ecommerce / CRM platform without writing a single line of code.
“I think video social interactive commerce is an idea whose time has come and 5G will only accelerate this trend. Happy to be part of Swirl’s journey to become a global leader in this field “, noted Siddarth Razdan.
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