9Unicorns, India’s first idea-phase accelerator VC fund, has recently led an undisclosed seed investment in KIKO TV, India’s first live streaming e-commerce platform committed to delivering an assisted shopping experience powered by AI. The funding round also saw participation from investors like Vinayak Srivastava and Saket Dandotia (Co-founders– Toch), Sunil Kumar Singhvi (Managing Partner at Singhvi Heritage LLP), and Srinivas Kotta (Senior Technical role at Adobe)
Founded in 2020 by IIT Bombay Alumni Shivam Varshney and Alok Chawla, KIKO TV aims to bring a native feel to the digital shopping experience of internet consumers through its live, interactive,and entertaining platform. Its AI-led technology is set to disrupt the social commerce market by leveraging social media’s immense reach for enabling e-commerce. The entertainment app enables online retailers and influencers to create content for marketing, branding and sales while enabling a one-on-one live selling session with the potential buyers, creating a more authentic experience of the transaction. Apart from viewing, liking and sharing the videos, any user can become an influencer and sell their own product or brand instantly on the platform.
Speaking on the investment, Shivam Varshney, Founder – KIKO TV, said, “We believe 9Unicorns and Dr. Apoorva Ranjan Sharma are ideal investors and mentors for the long journey ahead for KIKO TV. We are very excited and enthusiastic about this partnership. KIKO will be using the funds for building and improving our technology and expanding our customer base.”
The idea behind launching the app was to integrate both entertainment and live shopping experience for the users and hence redefine the overall seller-buyer relationship on social media platforms. Through automated content tagging, users can also instantly find related products from any video that is being played.
Dr. Apoorva Ranjan Sharma, Co-founder & Managing Director – 9Unicorns, said, “Social platforms today have turned into quick and convenient distribution channels for businesses. This new-age trend of social commerce is transforming the retail and e-commerce sector by influencing customers’ purchase decision and habits. KIKO TV has great opportunity in this emerging market and the potential to reshape India’s e-commerce landscape for the better. We hope that the funding fuels their vision of unlocking a more efficient and advanced future of sales and marketing for countless online businesses in India and beyond.”
The home-grown app offers videos on travel, food, fashion, comedy, workout, lifestyle and product reviews and is available for download on both Android and iOS.