Smooth Tag Technologies Pvt. Ltd, which operates live streaming platform Kiko TV, has raised seed funding in a round led by 9Unicorns, the fund set up by startup incubator and accelerator Venture Catalysts.
Other participants in the round are Toch co-founders Vinayak Srivastava and Saket Dandotia, Singhvi Heritage LLP managing partner Sunil Kumar Singhvi and Adobe executive Srinivas Kotta, Kiko TV said in a statement.
Indore-based Kiko TV didn’t disclose the amount it raised.
The e-commerce focussed startup was set up earlier this year by Indian Institute of Technology-Bombay alumni Shivam Varshney and Alok Chawla. The company says its artificial intelligence-based platform leverages the reach of social media and influencers and content creators to enable e-commerce engagement.
Kiko TV’s mobile application allows brands and influencers to create content, marketing and branding opportunities, while allowing for one-on-one live selling sessions with potential buyers.
The company will use the capital it has raised for enhancing its technological infrastructure and expanding its customer base, Varshney said.
“This new-age trend of social commerce is transforming the retail and e-commerce sector by influencing customers’ purchase decision and habits. Kiko TV has great opportunity in this emerging market and the potential to reshape India’s e-commerce landscape for the better,” 9Unicorns co-founder Apoorva Ranjan Sharma said.
According to VCCEdge, the data research arm of Mosaic Digital, Kiko TV had raised $300,000 (around Rs 2.18 crore) in August from 9Point8 Capital and other angel investors.
KIKO TV offers content in segments including travel, food, fashion, comedy, lifestyle, and product reviews.
The fund was set up by Venture Catalysts, which itself was founded in 2015 by Sharma, Anuj Golecha, Anil Jain and Gaurav Jain.
The vehicle hit its first close at Rs 100 crore (around $13.7 million). At the time, the fund said its investment plan will involve initially offering up to $100,000 for a 5-7% stake in a startup.
It has added several companies to its portfolio since hitting the first close. These include health-technology firm NeoDocs, agricultural-technology firm Humus, beverage brand Raskik, fitness platform Oga Fit, AI-based content marketing firm Instoried, celebrity engagement startup Gonuts, social gaming platform Tamasha, fertility care firm Janani, and snacks-focussed consumer brand TagZ Foods.