Sequoia India leads INR 105 cr funding round in vernacular e-commerce space BulBul

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

BulBul, a vernacular e-commerce startup, has bagged INR 105 crore in funding round led by Sequoia’s early accelerator programme Surge, reported Inc42.

Apart from Surge, other investors, who participated in the round include Leo Capital, CDH and Sequoia India.

Sachin Bhatia, founder and CEO at BulBul, while mentioning Sequoia’s Surge, said, “We look forward to welcoming one of India’s most revered entrepreneur and his fund to this elite group, as part of our current INR 105 Cr funding round.”

BulBul was founded by Sachin Bhatia, Atit Jain and Sichen Liu in 2018. The platform BulBul is a vernacular live streaming ecommerce platform.

The company BulBul enables hosts, sellers and consumers to use Bulbul as a platform to create videos, go live, sell products and services and for consumers to consume content and make informed purchase decisions.

Bhatia further said that the company launched the product in March 2019 and have scaled the business exceedingly fast.

He further added that the company has already recorded GMV worth INR.15 Cr, serviced over 280K customers and 400K transactions, with very high gross margins.

“Forty percent of our team is now women, in addition to the 100s of female hosts across the country who create and distribute product videos for us. Over time we see these hosts becoming key drivers of our business with the potential to generate substantial income for themselves,” Bhatia said.

Hence, as per the report by Statista, over 500 million Indians rely in Internet on daily basis, shopping online has become a fixed option, and over 2.14 billion people globally are expected to buy goods and services online in coming two years.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Bigg Boss 13 episode written update, November 11: Siddharth Shukla and Shehnaz Gill reconcile

The episode began with, Siddharth Shukla and Asim having a discussion about Vishal Aditya Singh. They compared him to...

How will Supreme Court verdict on Ram Temple in Ayodhya affect politics in Uttar Pradesh?

Lucknow, Nov 12 (IANS) The Supreme Court verdict in the Ram Janmabhoomi-Babri Masjid title dispute case will have a far reaching effect on the...

Call of Duty Modern Warfare 725 Shotgun is getting more nerfs soon

Call of Duty 4: Modern Warfare was a huge hit back in 2007 when it intrigued the gaming community with its fascinating storyline and gameplay....

Hong Kong: More clashes leave 128 people injured and 260 arrested

Hong Kong, Nov 12 (IANS) Clashes erupted once again on Tuesday on the streets of Hong Kong as protesters and security forces locked horns,...

Akshay Kumar wishes friend Ajay Devgn on his 100th film Tanhaji with a heartfelt message

Akshay Kumar is one of the most bankable actors in the Hindi film industry who also maintains a healthy relationship with his co-actors. He recently...
- Advertisement -

More Articles Like This