Social mobile-commerce startup Meesho has raised series B funding of $11.5 million led by Sequoia India. Existing investors SAIF Partners, Y Combinator and Venture Highway also participated in the funding round. The Bangalore-based Meesho was founded by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal in 2015. The startup provides an eponymous app which essentially connects suppliers to resellers, or small business owners like housewives, teachers, students etc, who then use social networks such as WhatsApp, Instagram, and Facebook to promote these products within their network. The startup also helps people to manage their e-tailing businesses with tools such as sourcing, logistics and payments tools. The app is currently available for Android platforms only. The company claims that a typical Meesho social seller earns between Rs 20,000–25,000 per month by selling products across fashion, lifestyle and many other categories, and to date, Meesho has about 8 lakh social sellers in over 500 towns across India on its platform. It added that it has a customer base of 4 million users. The company said in a statement that it will utilize this fresh raise to accelerate hiring and product development while expanding the categories on the platform. “With the new investment, we plan to double down on our mission to create 20M entrepreneurs over the next two years by expanding our suite of tools," said Aatrey. Previous Funding Meesho has raised $15M in total so far, the startup said in a statement. In October 2017, it raised $3.1 million from SAIF Partners and its existing…
