Social shopping gets a boost as Shopa bags $11m Octopus investment
Notion Capital also participated in Series A round to help London start-up break into China and India
Social commerce business Shopa, featured in the Startups 100 2013, has announced an impressive $11m Series A round this morning led by Octopus Investments and Notion Capital; said to be one of the largest Series A investments “ever made” in a UK start-up.
A site which combines social activity with shopping, London-based Shopa’s technology enables customers to discover brands and products through customer recommendations.
With a goal to “change online shopping forever”, the technology allows retailers to track and analyse social interactions around their products across any platform and any device in retail time – giving unique data into online purchase behaviours and the impact of social media channels.
The major investment is said to enable the e-tail company, which launched in July 2012, to build on its overseas expansion and launch into China and India after launching in the US recently.
Explaining how Shopa disrupts the marketplace, its CEO and founder, Peter Janes said: “Combining online shopping with the power of social is the holy grail of ecommerce, yet many brands are failing to fully embrace the value of social in connecting people to their products.
“Shopa has been cleverly built to provide retailers with a global marketplace for reaching millions of customers, as well as providing the perfect platform to hugely amplify noise around their brands and products all over the world.”
Luke Hakes, a member of the Ventures team at Octopus Investments, added:
“With its unique focus on social, we are hugely excited about the opportunity that Shopa represents and know it will quickly carve itself a place alongside other heavyweight global retailers.”