Meolaa Secures $2 Million in Funding Led by Turbostart to Expand its Team
Meolaa, an e-commerce platform offering sustainable consumer products, has made headlines by raising $2 million in a seed funding round led by Turbostart.
As per the startup, the freshly raised capital will be used to expand its team as it enters its next growth phase.
Meolaa | Sustainable Consumer Products
Founded by Ishita Sawant, Meolaa is a Mumbai-based e-commerce platform that offers sustainability-focused products across categories, including beauty, home improvements, baby care, apparel, and others.
Boasting a portfolio of over 1,500 brands and a selection of more than 125,000 products across six categories, the Mumbai-based e-commerce platform claims to have 3 lakh users. As per the startup, it has witnessed a 100% month-on-month growth in orders, users, and Gross Merchandise Value (GMV).
Statement from the Investor
Commenting on the development, Ganesh Raju, Founder at Turbostart, highlighted Meolaa’s commitment to sustainability, aligning perfectly with the growing global demand for eco-conscious businesses as its differentiating point.
While highlighting the current demand for sustainable products, Raju added,
“Current trends show that Generation Z prioritizes sustainable buying decisions over brand names, making a compelling case for the platform’s potential.”
Earlier in April, Meolaa raised an undisclosed amount in a seed funding round from Ranjan Pai, the Chairman of Manipal Education and Medical Group (MEMG). Before it, the Mumabi-based e-commerce platform raised $165,000 in a pre-seed funding round led by several investors.
These investors include the likes of Ranjan Pai of Manipal Education and Medical Group, Sixth Sense Ventures Founder and CEO Nikhil Vora, and Dale Vaz, ex-CTO of Swiggy.
Over the years, there has been a rising wave of demand for sustainable products.
Recently, BabyChakra, a parenting community and babycare D2C brand, raised investment from actor and UN Goodwill Ambassador Dia Mirza to incorporate sustainable and clean care principles into their product ranges. Last month, sustainable packaging firm Cirkla raised $3 million in a pre-seed funding round to scale operations, strengthen the sales force, and invest in new technologies.
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