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Chennai Angels, VC invests Rs 2.93 cr in Degpeg

This funding led by The Chennai Angels with participation from Venture Catalysts, will be used by Degpeg to further develop their product offerings and grow their marketing activities.

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Chennai: The Chennai Angels (TCA), one of India’s foremost angel investment groups, today announced an investment of Rs. 2.93 crores along with Venture Catalysts in Degpeg, a Bengaluru-based live commerce platform.

Degbeg enables brands, retail, commerce businesses, and influencers to go live from their website or choose from a platter of 30-plus social and community channels.

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This funding led by The Chennai Angels with participation from Venture Catalysts, will be used by Degpeg to further develop their product offerings and grow their marketing activities.

With a vision of becoming a full-stack global live commerce platform, Degpeg offers an outstanding solution when it comes to integrating live commerce and its benefits into a brand, a press statement from TCA said.

Degpeg brings to the table an entire 360-degree approach. From marketing to grow and offers a complete range of solutions for brands and retail businesses including content, performance Marketing, influencers, and tech integration with any e-com or sales solution.

Vipul Jain, Founder, Degpeg said “Live streaming has been gaining momentum over the last few years in various business categories including games, education, content creators, and corporates.

“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. This funding from The Chennai Angels will assist us in taking this vision forward”, he added.

Venkatesh V, the Lead Investor from The Chennai Angels (Director & CEO of Cavin Kare Pvt Ltd), said, “Social commerce is evolving into a robust consumer vertical and Degpeg is uniquely placed to capitalize on this opportunity with a well-identified niche and superior technology.

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 during this growth phase.

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”, he added.

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