Mandira Bedi, an Indian actress, fashion designer, and television presenter, is the latest celebrity join the list of Sagoon’s investors. Her tryst with Sagoon started much before she became a part of Sagoon’s app launch event in New Delhi, in January this year, along with Bollywood starlet Shraddha Kapoor. Playing the title role in the 1994 television serial, Shanti, shown on India’s national channel, Doordarshan, which was the first-ever daily soap on Indian television, she was always the one breaking the status quo. As Sagoon is also among the few companies who are breaking the status quo of social media, it became her apparent choice to get associated, again, but now as an investor.
After three successful rounds, Sagoon has so far raised $4.8 from 3000+ investors all over the world. The app has received more than 1 million app downloads in just two months after the launch. Sagoon now boasts over 2.3 million users across its mobile and web-based social commerce platform.
The company plans to further raise $5 million that it will use to hire more data scientists, strengthen infrastructure, enhance technology and promotion for user growth.
In March, Sagoon also entered into agreement for a $5 million investment from HT Overseas Pte Ltd (“HT Singapore”), a wholly-owned subsidiary of HT Media Limited (“HT Media”).
In January this year, Sagoon had announced the filing of a Regulation A+ (MINI-IPO) with the US Securities and Exchange Commission (SEC) to offer an investment opportunity mostly to a large pool of potential public investors who already are a part of Sagoon users, fans and supporters. In February, Sagoon again announced that it is launching its online public offering to raise $20 million from general public.
Commenting on the occasion, Govinda Giri, Founder and CEO, Sagoon, said, “We are extremely delighted to have Mandira Bedi on board. With this investment she becomes a Sagoon co-owner along with 3000+ investors from the globe. The success of our funding rounds is a strong indication of the trust investors have in our vision, our technology-thinking of services as well as our strong focus on robust model. We have managed to successfully stand out in the social commerce space as an innovator par excellence.”
Expressing her views on the investment, Mandira Bedi adds, “I am proud to associate with Sagoon and strongly believe in their vision to connect the world. I resonate with Sagoon’s vision to reverse the negatives of social media by creating a new meaning of social sharing. Moreover, digital is the future of India across all fields and going by the Digital India vision, I decided to invest in Sagoon since they’re at the forefront of innovative cutting edge technology and have great founders to realize their vision.”
To recall, last month, bollywood actor Sushant Singh Rajput had too announced the launch of Innsaei Ventures, a tech venture start-up which will look to bring socio-economic and developmental transformation through intellectual property powered by emerging technologies.
In July 2017, actor and television host Rannvijay Singh invested in fashion styling app IStyleYou.
Via – Hindustan Times.