Content marketplace firm Pep and social commerce platform Oyela have raised early-stage funding, the companies said on Monday.
Pep, an online video streaming platform focussed on upskilling, has raised $2.5 million (Rs 20.8 crore) in a seed funding round led by venture capital firm India Quotient. The round also saw participation from a host of angel investors including Vidit Aatrey and Sanjeev Barnwal of Meesho, Cred’s Kunal Shah and Fynd's Farooq Adam, amongst others.
Founded in 2023 by Nav Agrawal and Swapnil Upadhyay, Pep is a platform that allows its users to explore, purchase, and monetise content and services like live sessions, videos, one-on-one consultations across multiple genres like cooking, do-it-yourself (DIY), fashion, devotional, health and fitness, personal finance, amongst others.
"With our mobile-only approach, we enable people to sell content in a few clicks, directly monetise their knowledge and reduce dependency on conventional ad-based income. Using machine learning algorithms, our consumers discover and buy content at affordable prices,” said Agrawal, co-founder and chief executive officer, Pep.
The duo had previously founded the video-sharing application Clip in 2017. It had raised $6 million in a Series A funding round, which was led by venture capital firm Matrix Partners. India Quotient and Shunwei Capital also participated in the round. Parts of the startup were, however, eventually sold to ShareChat and Meesho.
As for the Bengaluru-based VC firm India Quotient, which focusses on early-stage investments, the investor recently led a $3 million seed funding round of logistics startup Blitz.
It also counts startups like marketing automation platform WebEngage, lending platforms Lendingkart and LoanTap, edtech platform Masai, and D2C brands like FabAlley, Giva and Sugar Cosmetics as part of its portfolio.
Social Commerce startup Oyela raised $1.7 million (Rs 14.4 crore) in a seed funding round from Prime Venture Partners. The startup will use the funding for developing its technology stack and expand its operations.
Founded in 2021 by Rahul Gope and Anjan Kumar Patel, Oyela is a platform that allows businesses to set up and manage their digital storefronts. It provides them with tools to collaborate with each other for better reach, streamline their operations and Instagram automation to secure more sales by using their social reach.
Last year, the company secured Rs 4.1 crore in a pre-seed funding round from a consortium of investors that included Good Capital, Upsparks Capital, and Eximius Ventures.
"The new funds will allow us to enhance our platform and help us to reach 2 million social stores in the next five years,” said Gope, co-founder and chief executive officer, Oyela.
