Degpeg raises Rs 2.93 crore funding led by The Chennai Angels

Bengaluru-headquartered Degpeg, a live commerce platform provider, has raised funds of Rs 2.93 crore in an investment round led by The Chennai Angels with participation from Venture Catalysts.

The funding would be utilised by Degpeg to further develop their product offerings to grow their marketing activities.

Degpeg enables brands, retail and commercial businesses to go live from their website or choose from over 30-plus social and community channels, a company statement said.

''Live streaming has been gaining momentum over the last few years in various business categories, including games, education, content creators...we implement a futuristic approach to position the company as a leading video and live commerce solution for all kinds of brands and businesses across the world,'' Degpeg founder Vipul Jain said.

The Chennai Angels' lead investor Venkatesh V said social commerce is evolving into a robust consumer vertical and Degpeg is uniquely placed to capitalise on this opportunity.

''The team at Degpeg has exhibited great insight, planning ability and execution track record in their journey so far. We, at The Chennai Angels, are excited to come on-board with Degpeg and look forward to partnering with them'', Venkatesh also the Director and CEO of fast-moving consumer goods major CavinKare Pvt Ltd said.

''The Chennai Angels has been actively involved in several new technology start-ups and we are eager to see them scale higher in the years ahead,'' he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)