It’s raining money for social commerce startups. After raising $10 million from CDH Investments, GlowRoad has topped up its Series B round with $11.5 million latest tranche. Korea Investment Partners (KIP) and Singapore-based Vertex Ventures participated in the round.
Meesho is the largest app in the segment followed by Shop101. Recently, early evangelist of social commerce space in India – Wooplr suspended operations due to capital crunch. Startups like BulBul, EkAnek, and SimSim are new indirect competition for GlowRoad. (Source)
