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Ecommerce

India-based startup Meesho raises USD 50 mln

Wednesday 7 November 2018 | 02:46 PM CET

Meesho, an India-based social commerce startup, has closed a USD 50 million investment to grow its business across its homeland.

This Series C round means that Meesho has now raised three funding rounds in the past year. Its USD 3.4 million Series A came in October 2017 with an USD 11.5 million Series B closing in June 2018.

The USD 50 million raise includes new investors Shunwei Capital, DST Partners, RPS Ventures, as well as Sequoia India, SAIF Partners, Venture Highway, and Y Combinator.

Meesho operates as an enabler for people in India wanting to sell products using social media. Primarily, the focus is WhatsApp, the global messaging app which counts India as its largest market with over 200 million monthly users.

The company provides sellers with products (which it sources from suppliers), inventory management, and other basic seller tools. In addition, Meesho also handles all payment and logistics. The startup operates in a range of verticals, including fashion, living, cosmetics, and more, while it is also working on technology that helps sellers figure out which products to push to their customer list.

There is no fixed price for products. That means that sellers can vary the price and even negotiate with their customers as they would do in real life.

More: Link
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