Total amount raised
£8.2 Million
Latest funding date
9/1/2022
Location
AGORA has successfully raised funds through 2 Convertible Note rounds, with the latest round involving 3 investors, including Molten Ventures as the lead investor. The company is backed by notable investors such as Henkel, Lakestar, and Molten Ventures.
Keep reading to explore the intricacies of AGORA's fundraising journey and the investors backing this innovative platform.
What Is AGORA?
AGORA, founded by Riccardo and Lizzie, is a next-gen shopping platform powered by short-form video content. The company operates in the beauty, e-commerce, and marketplace industries, and is based in London, England.
Specializing in social commerce solutions, AGORA focuses on boosting sales for TikTok shops and creators through innovative tech solutions. The company employs between 11-50 people and aims to elevate online presence and maximize growth potential for their clients.
How Much Funding Has AGORA Raised?
- Convertible Note
- Amount Raised: $3,600,000
- Date: September 2022
- Lead Investors: Molten Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and development of AGORA's next-gen shopping platform powered by short-form video content.
- Seed
- Amount Raised: $6,600,000
- Date: December 2020
- Lead Investors: Draper Esprit
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business, enhance social selling, build commerce features, and expand into new European markets.
Total amount raised: $10,200,000. Current valuation: Not publicly disclosed.
Key Investors
- Molten Ventures
- Details: Molten Ventures, formerly known as Draper Esprit, is a prominent venture capital firm based in Europe. They focus on investing in high-growth technology companies.
- Investment Focus Areas: Technology, digital commerce, enterprise software.
- Notable Investments: Trustpilot, Revolut, Graphcore.
- Henkel
- Details: Henkel is a global company headquartered in Germany, known for its leading brands and technologies in three business areas: Adhesive Technologies, Beauty Care, and Laundry & Home Care.
- Investment Focus Areas: Consumer goods, industrial solutions, beauty care.
- Notable Investments: Schwarzkopf, Loctite, Persil.
- Lakestar
- Details: Lakestar is a European venture capital firm that invests in technology companies. They have a strong track record of supporting startups from early to growth stages.
- Investment Focus Areas: Technology, digital commerce, fintech.
- Notable Investments: Spotify, Airbnb, Facebook.
- Angel Capital Management
- Details: Angel Capital Management is an investment firm that focuses on early-stage investments in innovative startups. They provide both capital and strategic support to their portfolio companies.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for AGORA?
AGORA stands poised to capitalize on the burgeoning social commerce market, particularly within the beauty industry. With plans to scale its social selling features and expand into new European markets, the company aims to become a leading platform for beauty enthusiasts and brands alike. The potential for growth is significant, given the platform's existing user base and partnerships with over 200 beauty brands.
Future fundraising opportunities seem likely as AGORA continues to enhance its technology and expand its reach. The company’s strong backing from investors like Draper Esprit and Lakestar suggests that additional funding rounds could be on the horizon to support these ambitious plans. However, AGORA will need to navigate the competitive landscape of the beauty industry and ensure the quality of user-generated content as it scales.
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