New Delhi, July 12 Lifestyle social commerce platform Trell on Monday announced it has raised $45 million in a Series B round, which the company would use to further develop its AI and ML technologies across regional languages and strengthen the team.
With the closing of Series B round, Trell has raised $62 million to date.
The funding was led by financial group Mirae Asset, H&M Group and co-led by LB Investments. Previous investor(s), along with KTB Network, Samsung Ventures, and Fosun RZ Capital have also participated in this round.
"Trell has enabled millions of Indian language internet users to discover and buy lifestyle trends, which has further fueled our need to diversify content creation, commerce in India and create sustainable opportunities for wealth creation and economic growth," said Pulkit Agrawal, Co-Founder and CEO, Trell.
With over 100 million downloads and more than 50 million monthly active users on its app, Trell said that categories in eight regional languages have garnered over 20 billion monthly views.
"Trell has shown impressive growth over the years and we believe that it has the potential to become a global leader in this space," said Nanna Anderson, Head of H&M CO:LAB, H&M Group's investment arm.
In August 2020, Trell launched its social commerce section on the app, enabling users to watch personalised product recommendations across beauty, personal care and wellness categories that they can buy from within the app.
"Our aim is to enable over 2,000 brands to penetrate the deeper pockets of the country and communicate with their potential customers through regional content creators by 2022," said Bimal Kartheek Rebba, Co-founder and COO, Trell.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor