Meesho raises $300 million from SoftBank Vision Fund as valuation races past $2 billion

Facebook-backed Meesho has raised $300 million in a new round of funding led by SoftBank Vision Fund 2, catapulting the social commerce startup’s valuation to $2.1 billion. ET first reported the details of the deal on February 12.

The company’s latest capital raising exercise has almost trebled its valuation compared to when it last raised $125 million in 2019. At the time Meesho was valued at around $700 million.

Meesho is the fourth domestic startup this year to enter the coveted unicorn club, comprising private firms valued at $1 billion or more. Others which have joined the top league in 2021 include insurance tech platform Digit, Innovaccer, a health tech platform and Infra.market, an online marketplace for construction material.