Info Edge (India) announced that IE Venture Fund I has entered into agreements to invest about USD 6.33 million in Bulbulive Shopping Network (Bulbul).
Bulbul is a video and livestream led commerce platform that aims to make online shopping engaging and social while offering consumers the opportunity to discover new products. The company also features influencers who explain the product features and interact with customers to clarify their queries helping them make a decision during a live broadcast.
The IE Venture Fund I has acquired/agreed to acquire 416 -Ordinary Shares and 2002-Series A1 compulsorily redeemable convertible Preferred Shares, through a mix of primary & secondary mode of acquisition.
Upon the successful closing of the said acquisition of shares, the aggregate shareholding of the Company in the said entity would be around 17.82% on fully converted & diluted basis. This is part of a larger round of about USD 8.7 million with existing investors contributing the balance amount.
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