May 25, 2022

Livestreaming commerce platform Firework closes $150 million Series B funding This round of fund-raising for Firework has been led by the SoftBank Vision Fund 2. (Photo: Firework) Updated May 25, 2022, 10:33 AM IST Livestreaming commerce platform Firework has secured $150 million in Series B funding, led by SoftBank Vision Fund 2. The company announced that the newly acquired funds would be used to “accelerate growth across a variety of metrics in pursuit of a bold, long-term vision to reshape the digital landscape with its decentralised infrastructure on which organisations can engage and transact with customers and audiences on their own properties and terms”. Firework is also looking to bring more people on board for engineering, product, and marketing and also make enhancements on the platform itself moving forward. “This investment will trigger accelerated growth across markets and particularly India. Over the last 24 months, we have built a robust platform and business model and they have contributed to the customer successes we have had. The capital will not only help us continue building these success stories but also ensure that Firework, as a platform never loses step with the bleeding edge of next-generation customer experience,” said Firework Chief Revenue Officer, Jeff Lucas. “Short videos and livestreaming are now the default language for the digital era, which is reshaping how consumers engage with brands and products online,” said Linda Yu, Partner at SoftBank Investment Advisers. “We believe Firework empowers businesses to use video to transform their websites into social and storytelling hubs so they can build deeper, long-term relationships with customers. Firework has assembled an impressive team in the digital commerce space and we’re thrilled to partner with them to build a next-generation customer experience,” Yu added. As part of the transaction, Yu has joined Firework’s board of directors. “SoftBank Investment Advisors brings deep knowledge and expertise with years of experience in the D2C space. Firework’s ambition to shape the next generation of internet and to become the infrastructure on which the next generation of the internet is built and run will be driven by our shared vision,” said Firework India CEO Sunil Nair. Firework has raised over $253 million in funding to date and since Q1 2021 has partnered with brands like ITC Foods, Sugar Cosmetics, Big Bazaar, Boat, Fab India, The Man Company and others.