This latest injection of funds will be primarily optimized for scaling Gobillion’s business expansion, launching more categories, and strengthening its operations, product development, and technology teams.
Gobillion, a pioneering B2C social commerce platform for the next 400 million customers spread across tier-2+ cities in India, raises seed funding amount of US$2.9 Million led by YCombinator, Justin Mateen (Founder – Tinder, through the JAM Fund) and Pioneer Fund.
Other marquee global investors who invested in Gobillion are Soma Capital, Goodwater Capital, Olive Tree Capital, Chris Golda Investments, Oliver Jung, Venture Souq, Shanti Mohan (Founder – LetsVenture), Vikas Choudhury (President, Reliance Jio). Some other investors include Acacia Venture Capital Partners, Soma Ventures, Asymmetry Ventures, Dileep Thazhmon (Founder – Jeeves), Vikalp Sahni (Co-Founder, Goibibo), Harsh Pokharna (Founder – OkCredit) and others.
Gobillion’s mission is to make e-commerce social and accessible – it stands out as an e-commerce pioneer that is enabling customers to buy together in social groups and unlock great deals. Incepted in 2020 and globally headquartered in San Francisco, USA with it’s India head office in New Delhi, Gobillion has been co-founded by IIM-NIT alumni Roshan Farhan and Kulapradip Bharali.
This latest injection of funds will be primarily optimized for scaling Gobillion’s business expansion, launching more categories, and strengthening its operations, product development, and technology teams. The company aims to build extensive social and gamified e-commerce experience that can best cater to the needs and aspirations of customers in small towns in India and South-East Asia.
By scaling across multiple daily use categories including groceries, daily essentials, home & kitchen items with the best value for money deals, the brand envisages becoming the go-to social commerce platform for countless customers for the next 400 million customers living in tier 2 cities in India.
Speaking on the seed fundraise, Roshan Farhan, Founder and CEO, Gobillion, said, “We are super excited to be building Gobillion and having secured the backing of marquee global investors who believe in our vision of making e-commerce social and accessible. The next frontier of growth and opportunity is enabling commerce for customers in small towns in India – we are well positioned to unlock rapid growth and delight customers with our offerings. We will be leveraging the capital to put our long-term plans into action and create a strong foundation for our business. The funds will help us invest in expanding our market, augment our tech and product capabilities, while doubling down on hiring of new talent across functions. We are grateful to our investors and customers who continue to champion our long term mission”
Gobillion endeavors launching its services across 12 cities in the next 1.5 years while scaling across 100 more cities in the upcoming four to five years.
Source: Business World