Influencer-led social commerce platform Trell raised $45 million (Rs 335 crore approx.) in a series B funding round from Mirae Asset, H&M Group and LB Investments at a post-money valuation of $120 million.
The funding round included existing backers, along with KTB Network, Samsung Ventures and Fosun RZ Capital, also participated in the funding round which saw some early-stage investors sell stock worth $5 million. So far, the startup has raised more than $62 million, including the latest round.
Reports are coming in that the startup’s valuation will touch anywhere between $600 million and $800 million. Trell has been focused on investing in four different areas: developing AI and ML technology, building a stellar team for innovation, building a sound community of creators and consumers, and expanding into newer categories such as babycare, homecare, apparel, and more.
Trell growth is led by constant innovation, and problem solving ability
What is working in their favor is the growth of social media users which is amounting to 450 million social media users in India and the sector is on a rapid growth curve. Trell has found a niche to serve this market, a large number of users are unable to find relevant content in their language when it comes to commerce and Trell found a way to solve this problem for content creators, consumers, and brands to interact on the platform and empower people with the right content.
Trell believes people want to buy products backed by their favourite influencers and celebrities, while celebrities and influencers also want to launch their own brands. To back its service the company had announced it will become 1,000 people from 400 in the next 12 months.
Trell’s aim is to “matchmake brands with the right partners” so that they can “grow through the platform and reach relevant customer groups”. In addition to that, regional influencers and celebrities can also launch their brands for the target audience.
In September 2021, Trell had acquired Womaniya — the community that helps empower women to become self-aware when it comes to wellness and self-care. The acquisition is aimed at improving efficiency, helping, and facilitating collaborations among the women’s community.
What Trell Users Say about the platform and its benefits
“I started my career with Trell and it helped me get the exposure one needs as a creator and also enabled me to do more.” says Tarini Shah, one of Trell's biggest content creators. https://t.co/0dcLK75t6v
— Trell (@TrellApp) October 12, 2021
The platform Trell aim is to cross $1 billion Gross Merchandise Value (GMV) in the next 18-24 months. The social commerce platform is already seeing almost 30 percent month-on-month growth on the platform.
Pulkit Agrawal, Trell Co-Founder had earlier stated – 18 million creators have built content for Trell, which reaches more than 50 million monthly active users. Other social commerce platforms in the reseller domain like Meesho utilise WhatsApp for sales.
Trell, on the other hand, is building a video commerce platform where a customer purchases products based on video content generated by content creators.
So, are they ready for a fresh infusion of funding again? well it could be.
