Oyela, a platform for collaborative commerce, secured Rs 14.4 crore in a seed funding round that was spearheaded by Prime Venture Partners.
According to a press release from Oyela, the company intends to use the funds to improve its e-commerce technology, create conversational commerce algorithms to enable selling on various channels, and automate the supply chain.
Oyela wants to turn Instagram into a hyper marketplace and power two million social stores, accounting for 1.6% of India’s e-commerce and 9.5% of its social commerce markets.
Rahul Gope and Anjan Kumar Patel co-founded Oyela in 2021, a platform that enables new social enterprises, product developers, and creatives to market to audiences and expand their businesses.
Businesses can easily create and manage online shops with Oyela. The platform helps sellers collaborate to better attract, streamline operations, and automate Instagram to boost sales.
Oyela is a network-driven platform that enables independent brands, small businesses, product creators, and artists to grow together and expand their customer bases.