Trell raises $45 million in series B round from Mirae Asset, H&M Group others
Lifestyle social commerce platform Trell has raised $45 million (Rs 335 crore) in a series B round of funding led by financial group Mirae Asset, H&M Group, and co-led by LB Investments. KTB Network, Samsung Ventures, and Fosun RZ Capital also participated in the funding round.
Trell plans to utilise the funds to strengthen its team and development of its technologies across regional languages. It also plans to expand its commerce operations by entering apparel, home care, and other categories over the next few months.
Commenting on the investment, Pulkit Agrawal co-founder and CEO at Trell in a statement said, “We are thankful to have Mirae Asset, H&M Group and LB Investments join us as our investors and partners. Trell has enabled millions of Indian language internet users to discover and buy lifestyle trends and we are grateful to have a community that has shown us incredible support.”
Nanna Anderson head of H&M group’s investment arm added, “Social Commerce is a very interesting and growing space within the retail industry in India and globally. Trell has shown impressive growth over the years and we believe that it has the potential to become a global leader in this space.”
The Bengaluru-based company Trell launched its social commerce model in August last year. The platform sells lifestyle products in beauty, fashion and wellness and has a strong customer base is in metros, tier,1, 2, and 3 cities across India.
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