AI-based short live video platform KIKO TV has received $300,000 funding from 9point8, Sunil Kumar Singhvi, and other HINs (High Net Worth Individuals). A product of Smooth Tag Technologies, KIKO TV was launched during the lockdown post the ban on 59 Chinese apps.
Investor Sunil Kumar Singhvi said in a press release: “Social commerce is the next generation trend that is reshaping the future of retail and commerce industry. Social commerce influences millennials’ purchase decisions and their shopping journey. KIKO TV enables content creation and social commerce which will fuel the fast-growing influencers’ profession. KIKO TV will be the future of marketing, branding, and sales channels for many online retailers.”
This move interactive entertainment video-based app allows users to view, like, and share videos and earn currency to shop within the app. Available for both android and ios, the app has recorded a daily rise of 12% in its active user base. The app has already signed more than 50 merchants on its platform. KIKO TV recorded gross annualized GMV of Rs 3.5 crore within a month of its active operation.
What special about KIKO TV is, it uses an AI platform that detects pornography, weapons, cyber abuse, and crime scenes in its videos. This ensures the safety and a comfortable video streaming experience.
Currently, KIKO TV offers more than 75,000 videos across genres including comedy, workout, travel, food, educational, fashion and makeup, and product reviews. The social commerce sector in India is expected to be worth $100 billion by 2025, a PayPal survey revealed. It competes with players like Meesho, DealShare, CoutLoot, Bulbul.tv, Simsim, and Shopify.
Short video streaming apps seem like a new trend. The government, investors, and entrepreneurs are at it.