Social Commerce Platform Meesho raised $11.5 million in Series B funding from Sequoia with a participation from existing investor SAIF Partners, Y Combinator and Venture Highway.
Meesho is an online marketplace, based out of Bangalore and provides an onlinnge platform as well as sourcing, logistics and payments tools to help the so-called “social sellers” launch, build and promote online businesses using multiple platforms, such as WhatsApp, Facebook and other social media channels.
It was started by IIT-Delhi graduates Vidit Aatrey and Sanjeev Barnwal in 2015. Meesho has so far raised $15 million, which includes the latest infusion.
It will use the money to scale up its product portfolio, hire fresh talent across teams, and for expanding into new seller categories.
“Our thesis is that Meesho as a channel for selling products is just the starting point. We believe that this can go on to become a distribution channel for a range of push or impulse-driven products, such as holidays, education products and insurance, among many others,” Mukul Arora, managing director at SAIF Partners told ET.
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First reported by ET