Meesho, an Indian social commerce startup that works with online merchants in India to manage their e-commerce businesses on social media and messaging platforms, received an investment of $11.5 million through a fresh funding round led by venture capitalist major Sequoia Capital.
The Bengaluru-based startup, provides tools that help these merchants in sourcing, logistics and payments. Meesho, has now raised $15 million in capital, and its existing investors SAIF Partners, Y Combinator and Venture Highway also participated in the new round.
Meesho was founded by IIT-Delhi graduates Vidit Aatrey and Sanjeev Barnwal in 2015. The company has been catering to social sellers including small retailers, housewives, students, among others. They typically earn between Rs 20,000-25,000 per month by selling products across fashion, lifestyle and many other categories.
Now Meesho has about 8 lakh registered sellers on its platform. “Most of the fresh capital will go behind enhancing technology and product along with hiring people, said Meesho co-founder Aatrey.