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.

Bambuser CEO Maryan Ghahremani

Bambuser CEO Maryam Ghahremani (Image Credits: Bambuser)While e-commerce and social networks platforms are expanding their support in this area, Ghahremani stated brands are turning to Bambuser due to the fact that they want to provide a live shopping experience while still owning the brand name experience, the consumer information and the transaction itself.

She also stressed that Bambuser is concentrated on being a business-to-business item, instead of a customer shopping platform.

“We are trying to produce not another Instagram or Facebook or marketplace, because we believe other [companies] are currently doing that,” she said. “We’re not even interested in entering into that fight. What we’re attempting to do, what we need to do is help the larger brand names.”

Participants in the new funding include Consensus Asset Management, Handelsbanken, Harmony Partners, Lancelot Possession Management, Tenth Avenue Holdings and TIN Fonder .

To name a few things, Ghahremani said she ‘d intended to produce a physical existence in the United States previously this year, however those strategies were delayed by the pandemic. Still, she’s now preparing to open a New york city workplace this quarter. And in the meantime, the U.S. has currently become the business’s largest market.

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.