Sequoia Capital, others, invest $11.5 million in Meesho

Social commerce startup Meesho has raised Rs 77 crore in a Series B funding-round led by Sequoia Capital. Existing investor SAIF Partners also participated in this round.

The funds will be used for advancing the tech platform and to strengthen critical functions, such as product, supply and technology. Meesho, is a mobile first e-commerce platform for the small businesses in India. It uses social media platforms such as WhatsApp and Facebook to drive sales.

Bengaluru-based company’s total funding now stands at $15 million. Apart from SAIF Partners, other existing investors include YCombinator, Venture Highway, VH Capital, Kashyap Deorah, Rajul Garg, Oyo Rooms’ Maninder Gulati, Abhishek Jain, and Jaspreet Bindra, among others.

“We are going to further build the product, as we want to offer localised experiences and tools to resellers. We plan to enter newer categories, apart from lifestyle, by the end of the next quarter,”said Vidit Aatrey, chief executive of Meesho, in a media statement.

In July 2016, Meesho was selected by YCombinator for a three-month programme based out of its Mountain View headquarters. Meesho was founded in 2015 by two IIT graduates – Vidit Aatrey and Sanjeev Barnwal.

Other major players in this space include Zepo, Shopmatic, and GlowRoad, among others.

 

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