E-commerce Startup Meolaa Raises Seed Funding
Meolaa, an E-commerce startup, has raised an undisclosed amount as part of its seed funding round led by Ranjan Pai, chairman of Manipal Education and Medical Group (MEMG).
As per the startup, the freshly raised funds will be used for hiring and expanding its India operations. The startup plans to use the funds to hire key leadership team members in primary functions such as category, marketing, logistics and customer service, and product and engineering.
It plans to increase its workforce to 35 people in the coming quarter.
Meolaa | E-commerce Startup
Founded by Ishita Sawant in 2022, Meolaa is a direct-to-consumer (D2C) sales platform that enables brands and sellers to self-manage their businesses and engage directly with customers.
The D2C platform offers sustainability-focused products in the areas of beauty, home improvements, baby care, apparel and others. Meolaa claims to have onboarded 750 brands across 6 verticals, offering 50,000+ products and claims to have 3 lakh users.
Last year, Meolaa secured pre-seed funding of $165,000 from a host of investors, including Dale Vaz (Swiggy), Sachin Bhartiya (Lighthouse Funds), Nikhil Vora (Sixth Sense Ventures), and StrongHer Ventures, among others. Last week, B2B2C e-commerce startup Direct2U raised Rs 1.8 crore in a seed funding round led by Inflection Point Ventures (IPV).
In recent years, the D2C segment in India has grown exponentially. According to a report by Shiprocket, D2C brands in India are estimated to become a $60 billion industry by FY27.
Oral care startup Perfora raised $2.5 million (around Rs 20.7 crore) in a Series A funding round led by RPSG Capital Ventures.
Earlier in February, D2C platform Blingg raised pre-seed funding of $100,000 led by Decentralized VC. In January, D’chica, a fashion brand offering innerwear along with a fashion line of sportswear, loungewear and footwear, raised Rs 1.62 crore from revenue-based financier Velocity.
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