HT TECH wants to start sending you push notifications. Click allow to subscribe

SoftBank mints new unicorn in Indian social commerce app Meesho

Bangalore-based social commerce startup Meesho Inc. has raised $300 million in new funding led by SoftBank Group Corp.’s Vision Fund 2, valuing the startup at $2.1 billion.

By: BLOOMBERG
Updated on: Aug 21 2022, 16:17 IST
Meesho Inc. has raised $300 million in new funding. (Meesho)

Bangalore-based social commerce startup Meesho Inc. has raised $300 million in new funding led by SoftBank Group Corp.’s Vision Fund 2, valuing the startup at $2.1 billion.

Existing investors like Prosus Ventures and Facebook Inc. also participated in the fresh investment round, which adds a new member to a growing coterie of Indian unicorns, or startups valued at more than a billion dollars. Meesho, which operates an online sales platform for micro, small and medium businesses across India, will use the funds to “strengthen its talent pool” across all areas, including technology, product and business.

You may be interested in

Mobiles Tablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
23% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
₹115,999₹149,999
Buy now
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
₹106,998
Check details
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹87,900
Check details
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,990₹74,999
Buy now
39% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹54,949₹89,999
Buy now
22% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹33,499₹42,999
Buy now
39% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹31,490₹51,990
Buy now
34% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,299₹39,999
Buy now
55% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹47,000
Buy now
32% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,790₹28,999
Buy now
Honor Pad X9
  • Gray
  • 4 GB RAM
  • 128 GB Storage
₹14,999
Check details

Also read: GitHub launches three new programs for developers, students and startups to boost open-source development in India

“SoftBank has always been excited to back founders that provide unique solutions for the local market,” said Munish Varma, managing partner at SoftBank Investment Advisers. “By using the power of artificial intelligence and machine learning, Meesho has created a platform for many small business owners to sell to the next cohort of internet users.”

SoftBank founder Masayoshi Son has consistently stressed the transformative potential of AI to drive innovation and business opportunity. His second Vision Fund was in doubt a year ago amid losses at its predecessor from investments in the likes of WeWork and Uber Technologies Inc., but improvements among the firm’s portfolio companies since then have provided him with the confidence and capital to resume investing aggressively in developing startups.

Read more: SoftBank-backed Grab in talks to go public in nearly $40 billion SPAC deal

Meesho serves over 13 million individual entrepreneurs in helping them start online businesses. The software developer has delivered orders from more than 100,000 registered suppliers to over 4,800 cities, pursuing a strategy of taking e-commerce to smaller cities and towns beyond the metropolitan areas already covered by the large online retailers.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 05 Apr, 16:59 IST

Sale

Mobiles Tablets Laptops
4% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
₹129,999₹134,999
Buy now
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
13% OFF
Xiaomi 14
  • Matte Black
  • 12 GB RAM
  • 512 GB Storage
₹69,999₹79,999
Buy now
10% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹80,590₹89,900
Buy now
33% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,999₹39,999
Buy now
38% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹34,000
Buy now
28% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹17,999₹24,999
Buy now
21% OFF
Samsung Galaxy Tab S8
  • Silver
  • 8 GB RAM
  • 128 GB Storage
₹54,999₹69,999
Buy now
38% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹32,790₹52,999
Buy now
14% OFF
Asus ROG Strix Scar 17 G733CX LL013WS Laptop
  • Off Black Stealth
  • 32 GB RAM
  • 2 TB SSD
₹236,990₹275,990
Buy now
27% OFF
Asus Vivobook 14X OLED K3405VCB KM952WS Laptop
  • Cool Silver
  • 16 GB RAM
  • 1 TB SSD
₹84,990₹116,990
Buy now
35% OFF
Asus VivoBook Pro 15 M6500QC HN542WS Laptop
  • Cool Silver
  • 16 GB RAM
  • 512 GB SSD
₹63,200₹96,990
Buy now
NEXT ARTICLE BEGINS