Woovly, a social commerce platform for Tier 2,3 millennials driven by a creator community, has recived undisclosed funding from Sony Innovation Fund, SOSV, RTAF, and ViNners.
Woovly intends to broaden its consumer base and investigate uncharted territory, including lifestyle, home décor, and fashion categories, with the help of funding.
“We are incredibly grateful for the support and confidence shown by Sony Innovation Fund, SOSV, RTAF, and ViNners in backing Woovly. This funding round will enable us to further enhance our platform and continue our mission of offering a seamless and engaging social commerce experience to our users. We are excited about the opportunities that lie ahead and look forward to taking Woovly to new heights in the industry,” said Neha Suyal, co-founder, Woovly.
Gen Tsuchikawa, CEO and Chief Investment Officer of Sony Ventures Corporation: “We are thrilled to be part of Woovly’s journey and support their vision for shaping ‘content-driven commerce’. Their innovative integration of immersive video content and seamless shopping experiences truly sets them apart and well positions them to capitalize on the rapid growth of India’s digital retail sector. We look forward to supporting the team as they pursue their next stage of growth.”
Woovly is a social engagement platform that was introduced in 2020 by Neha Suyal and J. Venkat. It is designed to reward and recognize people for their brand loyalty. Woovly is a one-stop-shop where you can find and buy cosmetics and personal hygiene items.
Woovly allows users to instantly discover and shop for lifestyle products through the use of short videos produced by micro- and nano-influencers. The influencers, whose content generates sales and traction, are compensated with cash incentives.