WINDO raises $500,000 in a seed round headed by Unicorn India Ventures

Unicorn India Ventures led a $500,000 seed round for Bengaluru-based Instagram/social commerce powering tech firm WINDO. Meena Ganesh, CEO of Portea, Aravind Sanka, CEO of Rapido, Srinivas Anumolu of GrowthStory, and Vivek Bhargava, a well-known digital media specialist and co-founder of ProfitWheel all participated in the round.

Apart from expanding into new markets, the firm intends to utilise the cash for product development, improving customer experience as it grows, and attaining product market fit.

WINDO is an Instagram commerce-focused software firm created in 2020 by second-time entrepreneurs Silus Reddy Chintapalli and Rakesh Vaddadi that assists small companies and solopreneurs in capitalising on customers migrating to Instagram.

Reddy and Vaddadi, both BITS Pilani grads, are attempting to fix Instagram’s flawed commerce experience. Instagram has become the go-to tool for millennials and Gen Z customers looking to find the newest trends in fashion, beauty, lifestyle, cuisine, travel, and other areas. While the discovery section is mostly satisfactory, the purchasing section is completely broken. Final purchases are now closed on DMs, which is inefficient and unscalable.

By allowing services such as centralised inventory, order management, pricing, and so on, WINDO hopes to become a one-stop shop where vendors can handle everything from the WINDO app. One may quickly select goods from their feed, add pricing and stock, and share the store with their consumers. WINDO Shop makes it simple for anybody to manage their online company by increasing orders, assisting them in setting up a professional-looking e-commerce site, and easily marketing their items to Instagram customers. In the following 12 months, the firm hopes to achieve an ARR of one million dollars.

Every month, almost 1 billion individuals use Instagram. According to Grand View Research, the worldwide social commerce industry would be worth $3,369 billion by 2028. From 2021 to 2028, it is anticipated to expand at a CAGR of 28.4 percent. However, India’s industry is anticipated to expand at a considerably higher rate than the worldwide CAGR, reaching $25 billion by 2025. Instagram/Facebook are likely to account for a sizable portion of this rapid increase.

NEWS SOURCE

ALSO READ : Sunder Pichai : JioPhone will make technology affordable & accessible