Bambuser is a name you might not have actually heard in a while, however the Stockholm-headquartered business is announcing today that it has raised $45 million in new financing this year, with $34.5 countless that quantity raised throughout the pandemic.
Bambuser’s history goes back more than a decade (the first TechCrunch coverage appeared in 2008). CEO Maryam Ghahremani told me that the founders’ concept– utilizing smart devices to stream live video journalism– made them “extremely, quite ahead of their time.”
Being ahead of your time isn’t always a good thing, and Ghahremani that the company has actually also had a hard time with having “too little capital” (although it publicly noted on Nasdaq First North in 2017) and likewise with turning its technology into a scalable company and a terrific item model.
So Ghahremani was brought on to change all that 2 years earlier. She informed me she quickly saw a chance in the development of live video shopping, especially in China, with prospective customers starting to ask whether Bambuser had any items for this. It didn’t at the time, but it quickly shifted focus and launched its very first live video shopping items last fall.
“We didn’t prepare for the pandemic to strike the world,” Ghahremani said. “We began this because we believe that this is going to be the future of retail.”
At the exact same time, she recommended that the pandemic– and the resulting shutdowns and battles of brick-and-mortar retail– have actually accelerated the transition, providing Bambuser’s company a big boost. The company’s offering has actually been utilized by brands including H&M, Motivi, Moda Operandi, Frame, LUISAVIAROMA and Showfields, and it says that in Q2, net sales were up 669% year-over-year.