Lifestyle video and commerce platform Trell has raised $45 million in a round from Mirae Asset, H&M Group and LB Investments. Existing investors along with KTB Network, Samsung Ventures, and Fosun RZ Capital have also participated in the Series B round.
On June 21, Entrackr had exclusively reported about Trell’s new round.
Trell will use the fresh proceeds to further develop its AI and ML technologies across regional languages as well as expanding the team size, said the company in a press release.
The fresh funding will take the total amount raised by Trell to date to $62 million. According to the Pulkit Agrawal-led company, it has raised the fresh round at a post-money valuation of $120 million.
Trell, which pivoted itself from a community-based platform to a lifestyle-centric short video app, had recently forayed into commerce through a marketplace model. The company’s separate B2B2C e-commerce app Bharat Dukaan offers FMCG products to retailers.
Trell claims to have crossed 50 million monthly active users or MAU and expects to achieve the 100 million MAU mark in the next 18 months.