Meesho, a Bangalore and California based independent online platform for resellers to setup shop and sell their wares has raised Rs. 22.4 crore ($3.44 million). VCCircle reports that some 17 investors took part in this round of funding to Meesho.
Meesho’s previous fund raising came twice in 2016 and then also it was mostly through angel investors, some known personalities, others not so much. These included Kashyap Deorah, co-founder of HyperTrack; Maninder Gulati, chief strategy officer at OYO Rooms; Jaspreet Bindra, senior vice president at Mahindra & Mahindra and Rajul Garg, Co-founder and Director of Sunstone Business School.
Meesho was also a part of reputed accelerator Y-Combinator in 2016, one of the first Indian companies to be accorded this distinction.
The startup was founded by two IIT- Delhi alumni Aatrey and Barnwal and have some exposure and experience before venturing on their own.
Meesho boasts of over 20, 000 resellers on its platform and it provides them space on social media also to share information about their products/services. Their site has seen 50, 000 downloads, reveals the Google Pay page.
Meesho is not the only startup in this space to receive funding during this period. Ace Turtle Services Pvt. Ltd, Zepo Technologies Pvt. Ltd, Shopmatic and Anchanto are some of the names mentioned by observers as having been funded by a clutch of venture capitalists and angel investors.