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Facebook has invested $25 million (₹173 crore) in Bengaluru-based social commerce start-up Meesho, marking Facebook’s first funding of an Indian start-up. In 2014, it had acquired Hyderabad-based Little Eye Labs for over $10 million.
Meesho has so far raised $65 million from investors, including from Sequoia Capital, SAIF Partners, Bain Capital, Shunwei Capital, DST Partners and RPS Ventures.
Meesho adopts a three-way marketplace connecting consumers, resellers and suppliers. Of the two million resellers on its platform, nearly 80 per cent is first-time women entrepreneurs. Facebook is the only investor in the Series D round.
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