Influencer-led lifestyle-social commerce platform Trell has secured a fundraise of $45 million in a Series B funding round from H&M Group, Mirae Asset and LB Investments, raising $62 million to date, the startup announced on July 12, 2021.
Subsisting backers KTB Network, Samsung Ventures, and Fosun RZ Capital were also participating in the funding round at a $120 million post-money valuation. The funding round saw some early-stage investors sell stock worth $5 million.
Company’s Profile
The Bengaluru-based startup Trell renders a platform for hundred-thousands of Indians to connect with like-minded people, explore lifestyle trends, and bestow content around their pursuits and passions across categories including beauty, fashion, wellness, health, food, TV reviews, travel, and gadgets, and others. The platform sells lifestyle goods with a significant customer base in tier 2 and tier 3 cities with a reported 10X-15X annual growth and 30% monthly growth. Trell started with its social commerce app in August 2020.
The startup’s colossal content library amassing over 20 billion monthly views, features videos in eight local languages. It alleges more than a hundred million downloads and beyond 50 million monthly engaged users on its app.
The investment will be vested in:
Trell will utilise the recent venture to grow its supply cable, extend its tech capabilities in regional dialects, fund training influencers, and expand its crew to 1,000 people from 400 within an year.
Agrawal announced that reaching more than 50 million monthly existing users on its app, 18 million creators had created content for Trell.
The startup is also ready to set foot in the apparel, home care, and mom and baby-care categories with the new venture in the coming months.
What the CEO has to say
Co-founder and CEO of Trell, Pulkit Agrawal, said, “Trell has empowered millions of Indian-language internet users to identify and acquire lifestyle trends. We are grateful to have a fellowship that has shown us unbelievable support, which has further fueled our need to broaden content creation, commerce in India, and generate sustainable opportunities for wealth creation and economic germination.”
Agrawal stated that the startup has already accomplished one million orders at an average scale value between Rs 750-800. It prices a general commission of 20-25% per order while experimenting with advertising, he added.
What the Investors has to say
Head of H&M Group’s Investment arm, Nanna Anderson, said, “Trell has exhibited impressive growth over the years, and we think that it has the potential to mature into a global leader in this market. We are thrilled to be a part of their mission, supporting the founders and the company in their vision.”
“Trell’s and spirit of empowering millions of Indian’s to become micro-entrepreneurs have truly resonated among us, and we are happy to see the admiration that the startup witnessed in 2020. The organisation has an in-depth perception of diversity across the nation. We believe the influence of the platform in the social commerce ecosystem is going to reform the way people connect and consume content on the internet, thereby supporting them make more varied lifestyle choices and purchase decisions.”, said Ashish Dave, Mirae Asset-Naver Asia Growth Fund.
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