Shop 101 raises $5M funding led by Stellaris VP

Social e-commerce platform Shop 101 has secured $5 million in funding in a round led by Stellaris Venture Partners with participation from Vy Capital, TaxiForSure co-founder Raghunandan G, and Livspace co-founder Ramakant Sharma.

The company, founded by Abhinav Jain and Aditya Gupta, will use the newly-infused capital to strengthen its core leadership and product team, scale the supplier network and enhance the technology platform.

Shop 101 enables merchants to sell online and via social media by creating an online store for them. It is a mobile-first platform which helps sellers build their own website on their phone.

“We provide the merchants with facilities like inventory management, logistics, payments, order processing, etc. and then can plug the online store with their Facebook and Instagram pages,” said Jain, chief executive of Shop 101. “We currently have over 3 lakh sellers on our platform.”

The Mumbai-based company was founded in 2015, while the platform went live in early 2016. Jain claims the company has 25-30% month-on-month since then.