Meesho said on Monday it has raised $300 million in a new financing round led by SoftBank Vision Fund 2 as the Indian social commerce startup works to become the “single ecosystem that will enable all small businesses to succeed online.”
The new round — a Series E — gives the five-year-old startup a valuation of $2.1 billion, up from about $600 million-$700 million in the 2019 Series D investment. The Indian startup, which has raised about $490 million to date, said existing investors Facebook, Prosus Ventures, Shunwei Capital, Venture Highway and Knollwood Investment also participated in the new round.
This deal appears to be Shunwei Capital’s first investment in an Indian startup in nearly a year. New Delhi last year introduced a rule to require its approval before a Chinese investor could write a check to an Indian firm.Techcrunch