We are excited to announce that Kiko Live has successfully raised $1,100,000 in funding, a significant milestone for our company as we continue to lead the way in digital retail transformation. Kiko Live empowers retailers to establish robust digital storefronts and deliver a seamless quick commerce experience for their customers. Our innovative solution includes comprehensive cataloguing, discovery tools, payment options, and hyperlocal delivery services that cater to the fast-evolving demands of the retail landscape. The recent funding will be strategically utilized to expand our reach nationally, while simultaneously enhancing our technological infrastructure to further streamline operations.
As recognized by ONDC in its Q1 2024 report and the Government of India in the Economic Survey of India 2024, we are proud to be the largest enabler of retail grocery digitization. With orders driven through platforms like WhatsApp and phone calls comprising more than 10% of sales—amounting to an astonishing $80 billion—Kiko Live is at the forefront of this pivotal shift towards digitization. Our capital-efficient quick commerce model empowers retailers to launch with minimal upfront investment, establishing a sustainable ecosystem where every transaction is economically viable.
As we navigate the challenges of supply chain management in the quick commerce universe, we are leveraging our patented technology to create a flexible supply asset ecosystem that supports multiple buyer solutions, including the ONDC and various quick commerce apps. Our vision is to facilitate the inclusion of long-tail stock-keeping units (SKUs) and enable services even in low-density areas, bridging the gaps faced by traditional inventory-led models. Together, we are shaping the future of retail for a digitally-driven world.
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