E-Business
Global Investors Tune into SWIRL as Live Video in Ecommerce Takes off
Live video shopping SaaS platform SWIRL has raised $250,000 in a pre-seed funding round led by global strategic investors and angels based in the US, Singapore, Middle-East and Europe including Gaurav Agarwal (Freedom Financial Network), Asheesh Khaneja (ex-IBM), Siddarth Razdan (FirstBridge Fund), Vineet Sharma (Dentsu) and Nirmal Shah (Prism Advisory) among others.
SWIRL aims to empower brands globally with experiential technology to engage more customers, shorten their purchase journey and accelerate online sales. SWIRL is on a mission to make ecommerce more engaging and human by bringing the in-store shopping experience online.
Their cloud based interactive and live video commerce SaaS platform helps both D2C brands and Retail enterprises to directly engage, convert and retain more customers using real-time virtual shopping that can also be whitelabelled and integrated with any existing eCommerce platform such as Shopify, Wix, WordPress, Magento, etc.
Founded in 2020, by Kaizad Hansotia and Bheshaj Joshi, SWIRL helps brands convert (on average) 3x more customers using shoppable short videos, livestream shopping and 1:1 virtual shopping.
The technology is state-of-the-art, infinitely scalable and contains a proprietary layer on top of video using text, chat (WhatsApp and SMS) and voice to make the entire shopping experience human-like.
SWIRL is trusted by over 100s of brands including ITC Fabelle, Unlimited Fashion by Arvind, GIVA, Zariin, and more recently has started working with Finnish fashion brand Ivana Helsinki.
It has helped brands like BeChef to increase their add-to-cart ratio by 400% and has seen 3x conversion rates compared to traditional ecommerce platforms.
On average, SWIRL has helped businesses to shorten their customer journey by cutting down the time it takes for them to purchase by 50-60%.
The consumer adoption of video-led social commerce has not only been accelerated during the pandemic but there is a permanent change in their buying behaviour which means that the future of retail and ecommerce belongs to companies that can replicate the offline shopping experience, digitally.
Quarterly revenues at SWIRL have increased 300% this year and it will soon begin to raise an institutional round for ramping up its growth and expand to multiple categories beyond ecommerce as it aims to officially enter the US & European markets by early 2022, with a goal to become one of the top 5 businesses in the experiential technology sector.
“Wherever the end consumer is involved, live commerce will play a major role in enabling sales by bridging the online-offline divide.
Right now it may be ecommerce, but if other industries such as financial services, real estate, automobile, travel & hospitality adapt, then we are potentially looking at $1 trillion opportunity which means video led sales engagement models will occupy 10-15% of global ecommerce market share by 2025” said Kaizad Hansotia, Founder & CEO of SWIRL
SWIRL offers businesses full control over the customer data and allows them to get real-time engagement analytics and post-show data points to optimise campaigns for future sales. Additionally, it easily integrates with a wide range of ecommerce platforms such as Shopify, WooCommerce among others without writing a single line of code.
“Just like how WhatsApp displaced SMS for many people, video ecommerce is going to become the new gold standard and make the static image-based online shopping experience a thing of the past” added Bheshaj Joshi, Co-Founder & COO of SWIRL.
The fundraise will be used to support the company’s growth to optimise its multi-cloud video commerce technology platform that enables retailers to empower their in-store associates to provide an immersive video shopping experience for a global audience.
“I believe the SWIRL Live Video Shopping solution is ready for global adoption. Its diverse use-cases across multiple verticals such as fashion, beauty, lifestyle, jewellery, luxury and beyond, have an immediate topline impact and increased conversion rates.
The ROI is just amazing for both SMB’s and large enterprises that are building their direct-to-consumer channels” said Asheesh Khaneja on investing in the funding round.
“I think video social interactive commerce is an idea whose time has come and 5G will only accelerate this trend. Happy to be a part of SWIRL’s journey to becoming a global leader in this space” said Siddarth Razdan on investing in the funding round.
E-Business
Firm Explores 2025 Potential IT Outage and Supply Chain Risk Scenarios
As part of its annual Kaspersky Security Bulletin, the company’s experts have analysed significant supply chain attacks and IT outages from the past year and explored potential future risk scenarios, providing insights aimed at helping businesses of all sizes enhance cybersecurity, build resilience, and prepare for possible emerging threats in 2025.
In 2024, supply chain attacks and IT outages emerged as dominant cybersecurity concerns, demonstrating that virtually no infrastructure is immune to risk.
A faulty CrowdStrike update affected millions of systems, and sophisticated incidents, such as the XZ backdoor and the Polyfill.io supply chain attack exposed the risks inherent in widely used tools.
These and other high-profile cases highlight the need for rigorous security measures, robust patch and update management, and proactive defenses to safeguard global supply chains and infrastructure.
In its “Story of the Year”, the Kaspersky Security Bulletin reflects on 2024’s past incidents, while contemplating hypothetical future scenarios, and considering their potential consequences, as follows:
What if a major AI provider faced an outage or a data breach? Businesses are increasingly relying on various models such as those from OpenAI, Meta, Anthropic and others.
However, despite the excellent user experience these integrations offer, they introduce significant cyber risks. Reliance on a single or limited number of AI service providers creates concentrated points of failure.
If a major AI company experiences a critical disruption, it could significantly impact dozens or even thousands of services that depend on them.
Furthermore, an incident at any major AI provider could result in one of the most severe data leaks, as these systems may store vast amounts of sensitive information.
What if on-device AI tools were exploited? As AI becomes more integrated into everyday devices, the risk of it becoming an attack vector grows significantly.
For instance, the Operation Triangulation campaign, uncovered by Kaspersky in 2023, demonstrated how attackers could compromise device integrity by exploiting zero-day vulnerabilities in the system software and hardware to deploy advanced spyware.
Similar potential software or hardware-assisted vulnerabilities in the neural processing units powering AI – both broadly and in specific platforms like Apple Intelligence – could, if discovered, extend or present an even greater threat. Exploiting such weaknesses could harness AI capabilities to significantly amplify the scope and impact of such attacks.
Kaspersky’s research into Operation Triangulation also revealed the first of its kind case reported by the company: the misuse of on-device machine learning for data extraction, highlighting that the features designed to enhance user experience are already being weaponised by sophisticated threat actors.
What if threat actors disrupted satellite connectivity? While the space industry in general has been encountering various cyberattacks for a while, the new target for threat actors may be satellite Internet providers as important elements of the global connectivity chain.
Satellite Internet can provide temporary communication links when other systems are down; airlines, ships, and other platforms may rely on it to provide onboard connectivity; it may also be used to enable secure communication services.
This presents cyber risks: a targeted cyberattack or a faulty update from a leading or dominant satellite provider could cause Internet outages and potential communication breakdowns, impacting individuals and organisations.
What if major physical threats to the Internet occurred? Continuing the topic of connectivity, the Internet is also vulnerable to physical threats. 95% of global data is transmitted through subsea cables, and there are nearly 1,500 Internet Exchange Points (IXPs) – physical locations, sometimes within data centers, where different networks exchange traffic.
A disruption to just a few critical components of this chain – such as key cables or IXPs – could overload the remaining infrastructure, potentially causing widespread outages and significantly impacting global connectivity.
What if severe vulnerabilities in Windows and Linux kernel were exploited? These operating systems power many of the world’s critical assets, including servers, manufacturing equipment, logistics systems, IoT devices, and others.
A remotely exploitable kernel vulnerability in these systems could expose countless devices and networks worldwide to potential attacks, creating a high-risk situation in which global supply chains could face significant disruption.
“Supply chain risks may seem overwhelming, but awareness is the first step toward prevention,” said Igor Kuznetsov, Director of Global Research and Analysis Team (GReAT) at Kaspersky.
“By testing updates rigorously, leveraging AI-driven anomaly detection, and diversifying providers to reduce single points of failure, we can reduce weak elements and build resilience. A culture of responsibility among personnel is equally vital, as human vigilance remains the cornerstone of security. Together, these measures can safeguard supply chains and ensure a more secure future”.
E-Business
Microsoft to Boost AI Growth with $80Bn Investment
Microsoft has announced plans to invest $80 billion in the 2025 fiscal year to expand its data centre infrastructure.
The investment will focus on supporting the training of artificial intelligence (AI) models and the deployment of AI and cloud-based applications.
The company disclosed this initiative in a blog post on Friday, emphasising its commitment to advancing AI and cloud technology.
Since OpenAI launched ChatGPT in 2022, investment in AI has surged as businesses across sectors strive to integrate artificial intelligence into their products and services.
AI requires enormous computing power, pushing demand for specialised data centres that enable tech companies to link thousands of chips together in clusters.
Before now, Microsoft has invested billions of dollars to enhance its AI infrastructure, broadening its data centre network.
Analysts project Microsoft’s fiscal 2025 capital expenditure, including capital leases, to reach $84.24 billion, according to Visible Alpha.
The company’s capital expenditure in the first quarter of the fiscal year rose by 5.3% to $20 billion.
As the primary backer of OpenAI, the tech giant is considered a leading player among Big Tech companies in the AI race, owing to its exclusive partnership with the AI chatbot developer.
More than half of Microsoft’s $80 billion investment will be allocated to the United States, Brad Smith, vice chair and president noted in the blog post.
“Today, the United States leads the global AI race due to the investment of private capital and innovations by American companies of all sizes, from dynamic start-ups to well-established enterprises,” Smith remarked.
E-Business
NDPC to Impose Heavy Fines on Defaulting Data Processors, Controllers this Year
Nigeria Data Protection Commission (NDPC) has announced plans to significantly ramp up enforcement and impose substantial fines on data controllers and processors that violate the Nigeria Data Protection Act (NDPA) of 2023.
This was disclosed by Dr Vincent Olatunji, national commissioner/CEO of the Commission, in a video message outlining the Commission’s 2025 agenda, shared on the agency’s social media platforms.
A statement issued by the Communications Division of the Commission on Friday quoted Dr Olatunji as saying that, “For data controllers and processors, there is going to be massive enforcement. We have never really issued any fine, but going forward, you’ll hear us giving heavy penalties.”
He assured Nigerians that their data rights, as guaranteed by the NDPA, will be fully protected, and defaulting data controllers and processors will face strict consequences.
The Commissioner highlighted the NDPC’s extensive engagements with stakeholders across public and private sectors to promote awareness and compliance with the Commission’s mandate.
The efforts, he said, have resulted in the signing of Memorandums of Understanding (MOUs) with key organisations, including the National Insurance Commission (NAICOM), National Lottery Regulatory Commission (NLRC), the Data Privacy Office of Canada, and the Dubai International Financial Centre Authority (DIFC), among others.
Dr Olatunji also shared that the NDPC will advance to the second phase of its Strategic Roadmap and Action Plan (NDP-SRAP 2023-2027) in 2025.
This phase is expected to create job opportunities within Nigeria’s data protection and privacy ecosystem, particularly for young people.
The Commission has been actively training Nigerians in data protection and privacy, creating a pool of globally competitive experts within the data protection sector in 2025.
“There are a lot of data controllers and processors that are looking for people to work with them. Now those that we have trained in 2024, those we have certified, we are going to do more this year to actually launch them to the job market where they can really work with data controllers and processors,” he said.
Additionally, the NDPC will continue nationwide efforts to promote data protection awareness.
The Commission aims to educate citizens about their rights and the importance of data privacy while reminding data controllers and processors of their obligations under the NDP Act.
Dr Olatunji emphasised that these initiatives are part of the broader goal to embed a culture of data protection and privacy in Nigeria.
As part of its international engagement efforts, Nigeria will host the “Network of African Data Protection Authorities Conference” in May 2025, with over 40 nations with existing data protection laws expected to attend.
According to Dr Olatunji, this global event will position Nigeria as a leader in the data protection ecosystem, and bring significant economic benefits to the country.
The NDPC reiterated its commitment to ensuring data protection and privacy become integral to Nigeria’s digital landscape, building trust and fostering economic growth, the statement added.
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