The Chennai Angels (TCA), one of the most active angel investing groups in Tamil Nadu, along with Venture Catalysts, has invested ₹2.93 crore in Degpeg, a Bengaluru-based live commerce platform.
The platform enables brands, retail, commerce businesses, and influencers to go live from its website or choose from a platter of 30 plus social and community channels. The funding will be used by Degpeg to further develop its product offerings and marketing activities.
Vipul Jain, founder, Degpeg, said, “Live streaming has been gaining momentum over the last few years in various business categories including games, education, and corporates. We implement a futuristic approach to position the company as a video and live commerce solution for all kinds of brands and businesses. The funding from The Chennai Angels will assist us in taking this vision forward.”
Venkatesh Vijayaraghavan, the lead investor from The Chennai Angels, said, “Social commerce is evolving into a robust consumer vertical and Degpeg is uniquely placed to capitalise on this opportunity with a well-identified niche and superior technology.” He added, “Over the years, The Chennai Angels have been actively involved in several new tech start-ups and we are eager to see them scale higher in the years ahead.”
Degpeg offers solutions for brands and retail businesses including content, performance marketing, influencers, and tech integration.
