Total amount raised
£8.2 Millions
Latest funding date
9/1/2022
Location
AGORA has successfully raised £8,200,000 over two funding rounds, with notable contributions from investors such as Henkel and Lakestar. The platform is a next-generation shopping solution powered by short-form video content, designed to enhance brand growth on TikTok.
Keep reading to explore the intricacies of AGORA's fundraising journey and the investors backing this innovative platform.
What Is AGORA?
AGORA, founded in 2019 by Lizzie Craft and Riccardo Basile, is based in London, England. The company operates as a next-generation shopping platform powered by short-form video content. With a team of 11-50 employees, AGORA enables users to discover and share product recommendations through livestreams and video reviews.
How Much Funding Has AGORA Raised?
- Convertible Note
- Amount Raised: £3,000,000 (approximately $3,600,000 USD)
- Date: September 2022
- Lead Investors: Molten Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance social selling features.
- Seed Round
- Amount Raised: £5,200,000 (approximately $6,240,000 USD)
- Date: December 2020
- Lead Investors: Molten Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new European markets and introduce tech solutions like live streaming and AI-fueled personalization.
Total amount raised: $9,840,000 USD. Current valuation: Not publicly disclosed.
Key Investors
- Henkel
- Details: Henkel is a multinational company known for its brands and technologies in three business areas: Laundry & Home Care, Beauty Care, and Adhesive Technologies. Founded in 1876, Henkel operates globally with a strong presence in both consumer and industrial sectors.
- Investment Focus Areas: Consumer goods, beauty care, adhesive technologies.
- Notable Investments: Schwarzkopf, Loctite, Persil.
- Lakestar
- Details: Lakestar is a venture capital firm that invests in technology companies, focusing on Europe and the United States. The firm aims to support companies that have the potential to become global market leaders.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Spotify, Skype, Facebook.
- Angel Capital Management
- Details: Angel Capital Management provides seed and early-stage funding to startups. The firm offers strategic support to help companies grow and succeed in their respective markets.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Specific notable investments are not publicly disclosed.
- Draper Esprit
- Details: Draper Esprit is a leading venture capital firm that invests in high-growth technology companies. The firm focuses on transformative market opportunities, particularly in Europe.
- Investment Focus Areas: High-growth technology, various sectors.
- Notable Investments: Trustpilot, Graphcore, Revolut.
- Molten Ventures
- Details: Molten Ventures is a venture capital firm that invests in innovative technology companies. The firm supports businesses that have the potential to disrupt their industries and achieve significant growth.
- Investment Focus Areas: Technology, innovation, disruptive industries.
- Notable Investments: Not publicly disclosed.
What's Next for AGORA?
AGORA stands at the cusp of a significant opportunity to revolutionize the beauty market in Europe. With plans to scale its social selling features and introduce live streaming and AI-fueled personalization, the platform aims to offer a unique shopping experience. The potential to expand into new European markets and partner with global and independent beauty brands further underscores the vast growth prospects.
Future fundraising rounds seem likely as AGORA continues to enhance its technology and expand its team. However, the company will need to navigate challenges such as maintaining user engagement and competing in a crowded market. Successfully integrating advanced technologies and scaling operations will be crucial for sustained growth.
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