Collaborative commerce platform Oyela raises Rs 14.4 crore led by Prime Venture Partners
Collaborative commerce platform Oyela has raised Rs 14.4 crore as part of fresh funding led by early-stage venture capital fund Prime Venture Partners.
The company said it will use the funds to develop ecommerce technology, build chatbots for selling on various platforms with public profiles like Pinterest, YouTube, Threads as well as streamline the supply chain to help people set up and expand their own Instagram stores.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitFounded in 2021 by Rahul Gope and Anjan Kumar Patel, Oyela helps sellers to grow their business by offering tools to collaborate with each other for better traction on social media, streamline operations, and use Instagram automation to boost sales.
“We are thrilled to welcome Prime Venture Partners as our newest partner in this exciting journey. The new funds will allow us to further enhance our platform and help us achieve our dream of empowering 2 million social stores in the next five years,” said Rahul Gope, cofounder and CEO, Oyela.
“First value proposition that we offer to the sellers is getting more orders and utilising their own social media reach. Second is making them collaborate with relevant sellers to utilise their social media reach as well,” Gope told ET in an interaction.
Almost 60-70% of the sellers that use Oyela are women entrepreneurs, he added.
Gope said the ecommerce technology will include order management, automated order
