New Delhi (India), February 3:Â Springo, a community commerce enabler platform aimed at making the journeys of sellers selling on social media fast, efficient & easy has secured an undisclosed amount in a seed round from Hyderabad-headquartered SucSEED Indovation Fund.
Founded by Swati Desai & Ronak Desai, Springo provides a full stack product suite that is currently helping 10-15+ Million sellers in India, scaling their business primarily through Meta Marketing.
With the motto of “Gateway to Community commerceâ€, Springo targets to define the seller’s X to 10X journey with full-stack productivity and growth tools.
Sharing her journey on what led to founding Springo, Swati Desai, the Founder and CEO of Springo said, “I was a seller & struggled to scale my business due to lack of resources. 1/3rd of sellers selling on social media globally are sailing the same boat. To empower such sellers to get them, buyers, I started a FB community that has organically grown to 1.35 Lac+ members with 15K+ sellers, followed by launching an e-commerce platform. Still, the sellers were not able to grow their business. We identified & analyzed that their primary channel is social media & the operations on it were broken, unstructured & inefficient due to which the work which can be done in 10 days today takes 30 days.â€
She further added that “The seed funding we raised from SucSEED Indovation Fund will help us enter the global market and expand globally.â€
Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “According to the Grand View Research Report, The global social commerce market size was valued at USD 584.91 billion in 2021 and is projected to grow at a (CAGR) of 30.8% from 2022 to 2030. Spring is building a first-of-its-kind social commerce enabler platform aimed at making the selling journeys fast, efficient & easy via its product suite. It offers the tools to manage the e-commerce stores with plug-and-play features so that consumers can focus on the other strategy and financial aspects of the business and spring will handle marketing for themâ€.
About SucSEED Indovation Fund – SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors – EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS, and Digital Economy & Emerging Tech.
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