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FMCG company Meolaa raises $6 Mn led by General Catalyst

EntrackrEntrackr · 18h ago
FMCG company Meolaa raises $6 Mn led by General Catalyst
Medial

Meolaa, an end-to-end technology-powered FMCG company, has secured $6 million in pre-Series A funding round led by General Catalyst with participation from Claypond Capital, Colossa Ventures, Kunal Shah, Turbostart Global, and other existing investors. Prior to this, the Bengaluru-based startup had raised $4.43 million in a seed funding round from Manipal Group and others. The proceeds will be utilized for AI and data science infrastructure, brand expansion, and operational agility and scale, Meolaa said in a press release. Launched in 2023 by Ishita Sawant, Meolaa is an e-commerce marketplace that curates sustainable and high-quality Direct-To-Consumer (D2C) brands in categories like fashion, beauty, home, and baby care. The company operates on a marketplace model, charging brands a commission on sales and aims to empower conscious consumers by providing ethical and mindful product choices. According to Meolaa, it augments AI and advanced analytics across its business verticals, integrating consumer market intelligence, new product development, packaging and branding innovation, and supply chain and distribution optimization. This end-to-end technology-powered framework creates a unified workflow that accelerates decision-making, strengthens product design, and ensures that every stage of the brand lifecycle is informed by actionable insights. Meolaa addresses this gap through a unified AI-powered brand creation framework that combines real-time consumer intelligence, structured innovation processes, and intelligent go-to-market orchestration. Meolaa's first and flagship brand, HIRA, serves as definitive proof of concept to the company’s approach, achieving Rs 1 crore in monthly recurring revenue within just three months of launch. The marketplace claims to have served over 6 lakh customers and crossed Rs 100 crore ARR within 18 months.

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Zepto raises $340 Mn at $5 Bn valuation

EntrackrEntrackr · 1y ago
Zepto raises $340 Mn at $5 Bn valuation
Medial

Quick commerce company Zepto has raised $340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors. Existing investors, including StepStone, Lightspeed, DST, and Contrary, also increased their stakes. With this new funding, the company’s valuation has surged by nearly 40%, rising to $5 billion from $3.6 billion in June, when it raised $665 million in its Series F round. Zepto, has raised over $1 billion in 2024, $1.2 billion in the past 12 months, and more than $1.5 billion since its inception. “The rationale behind this follow-on financing was twofold,” said Aadit Palicha, co-founder and CEO of Zepto. “First, the opportunity to bring on a lead investor of Neeraj Arora’s caliber from General Catalyst was one we couldn’t pass up. Second, strengthening our balance sheet is a strategic move, especially as the company continues to deliver robust growth and operating leverage.” Zepto serves millions of customers by delivering over 10,000 products across various categories within 10 minutes through a network of delivery hubs nationwide. The Mumbai-based firm claims it has nearly achieved EBITDA positivity with 140% year-on-year growth and an annualized gross merchandise value of over $1 billion (Rs 8,300 crore). As of May 2024, it also reports that about 75% of its stores are fully EBITDA positive. In FY23, Zepto registered a 14-fold increase in revenue to Rs 2,024 crore, though its losses widened to Rs 1,272 crore. The quick commerce sector is becoming increasingly competitive with Flipkart’s recent entry and BigBasket’s full shift to rapid delivery. Additionally, e-commerce leader Amazon is expected to join the market early next year. Currently, Zomato-owned Blinkit has emerged as top player in the quick commerce followed by Swiggy Instamart, Zepto and Tata Digital-owned BigBasket.

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