SoftBank leads $300m round in Facebook-backed Indian ecommerce firm

Meesho, an online marketplace for Indian entrepreneurs and consumers, announced it has raised US$300 million in its latest round of funding.

More funding details

• Lead investor: SoftBank Vision Fund 2
• Returning investors: Prosus Ventures, Facebook, Shunwei Capital, Venture Highway, and Knollwood Investment

More company updates

• With the latest investment, Meesho’s valuation has reached US$2.1 billion, the company said in a statement. This makes it the fourth Indian startup to achieve unicorn status this year, after insurtech firm Digit, healthtech firm Innovaccer, and online construction marketplace Infra Market. 
• The company will use the funds raised to strengthen its talent pool across its teams including tech, product, and business, among others.
• Meesho claims to engage over 100,000 registered suppliers, generating more than 5 billion rupees (US$68.1 million) in income for entrepreneurs.
• Last month, the Facebook-backed ecommerce firm announced that it would be closing its Indonesia operations.
• The ecommerce firm aims to build a single digital ecosystem for 100 million small businesses using improved policies and tools to help sellers.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.