Social commerce-focused technology platform Windo has raised $1.5 million in its Pre-Series A funding round from Unicorn India Ventures.
Other prominent investors and family offices including Capri Global, Aravind Sanka ( CEO & Co-founder, Rapido) and K Ganesh (co-founder, Portea), among others, also participated in this round.
The startup plans to use the funds for product development and expansion of its overseas footprint.
The Bengaluru-based Windo was founded in 2020 by Rakesh Vaddadi and Silus Reddy, It helps solopreneurs, influencers, small and medium sized businesses to set up their online store in minutes.
“The SaaS space is large enough that multiple profitable apps can sustain and we approach the problem differently than our peers as we are keeping it affordable and flexible,” said, Silus Reddy, co-founder and CEO, Windo.
The platform saw a 150% increase in its active users last year, a large portion of which are paying customers.
Currently, its app stands at 200K downloads with users spread across more than 140 countries.
In addition, the startup has 50,000 monthly active users, currently hosts over 100 thousand online shops, and is targeting an ARR of $1 million over the next 12 months.
“We’ve seen a huge wave of small and midsize D2C brands take to social media platforms to establish their businesses. With the expansion, there is a rapidly growing need for platforms that can support social commerce entrepreneurs,” said, Sparsh Kumar, Senior Investment Associate, Unicorn India Ventures.
In June 2021, Windo had raised $500,000 in its seed funding round led by Unicorn India Ventures.
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