Tilt, a London-based interactive shopping app, has raised $18 million in a Series A funding round to further develop its real-time shopping platform.
Investment Details
The latest round of funding was led by Balderton Capital, a well-known investor in Revolut and Depop. Additional participants in the round included TQ Ventures, Earlybird, and Seedcamp. This funding follows a previous $3 million investment secured in 2022, bringing Tilt’s total funding to $21 million.
Tilt’s Growth and the Live Shopping Sector
The funds will be used to enhance the Tilt platform, which is positioned to capitalize on the growing trend of live-streamed e-commerce. In China, live shopping is expected to grow by 25% this year, with predictions that 10% to 20% of global e-commerce sales will be conducted via live streaming by 2026. Despite the rapid growth in Asia, the UK and US markets have been slower to adopt this trend. Tilt aims to bridge this gap by offering a unique shopping experience that mimics in-store shopping through real-time streams, deals, live auctions, and interactive events.
Founders and Vision
Tilt was founded by Abhi Thanendran and Neil Shah, both alumni of Revolut. Thanendran previously served as Revolut’s first data scientist, while Shah led the company’s international expansion and authorization divisions. Their vision for Tilt is to create an interactive platform that allows emerging Gen Z fashion brands to connect with communities of shoppers directly within the app.
How Tilt Works
The Tilt app offers users the ability to join video and live stream rooms created by brands, where they can interact with friends and other shoppers. Brands can quickly connect their stores to the Tilt platform to create shoppable videos and live streams. Products can be seen in action, and purchases can be made directly within the app without redirection or the need to create separate accounts for different stores. Although still in its early stages, Tilt has already attracted hundreds of brands and features tens of thousands of products.
Future Plans
With the new funding, Tilt plans to scale its platform, expand its team, and deepen its engagement with the growing community. The company is committed to building a vibrant live commerce community worldwide, making live shopping an engaging and enjoyable experience.
Daniel Waterhouse, Partner at Balderton Capital, expressed his enthusiasm for Tilt’s growth, stating that the company has successfully cracked the live shopping market in the UK by adding over half a million users within the first year. He emphasized the importance of Tilt’s focus on innovation and community engagement as key drivers for the platform’s success.
This latest funding round positions Tilt to further innovate and lead the way in the live shopping sector, especially in markets like the UK and US where live-streamed e-commerce is just beginning to take off.
