E-commerce firm Meolaa gets $2 million seed funding
The company raised its pre-seed funding round of $165K in March 2022. This round of funding helped to kickstart Meolaa's growth and support its mission to create a community of conscious consumers and purpose-driven brands.
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08:05 PM IST
E-commerce company Meolaa, which is offering a one-stop-shop to bridge the gap between sustainability and lifestyle, has received $2 million in seed funding led by Turbostart.
The company which hosts sustainable consumer products on its platform mainly caters to Gen Z.
Founded by the young and dynamic 23-year-old Ishita Sawant, Meolaa is a digitally native sustainable consumer products e-commerce platform. The startup claims to have more than 1,500 brands and over 1,25,000 products across six categories.
The company raised its pre-seed funding round of $165K in March 2022.
This round of funding helped to kickstart Meolaa's growth and support its mission to create a community of conscious consumers and purpose-driven brands.
In the pre-seed round, investors like Dr. Ranjan Pai of Manipal Education and Medical Group; Dale Vaz, ex-CTO of Swiggy; Sixth Sense Ventures founder and CEO Nikhil Vora; Lighthouse Funds founder Sachin Bhartiya, and StrongHer Ventures participated.
"Meolaa’s seed funding is a stepping stone in our journey towards a world where all choices are sustainable choices. We aim to enable customers to shop with confidence, knowing everything you buy from us is good for you, your family, and the planet.
We plan to deploy these funds towards building our team for our next stage of growth, establishing Meolaa as the trusted platform for sustainable consumer products, and enabling thousands of happy customers to build a healthier life," said Ishita.
Turbostart, which was founded in 2019, serves as both a fund and an accelerator in India and overseas.
Every year, the business discovers and chooses high-potential companies from all areas. Unlike many typical accelerators and funders, Turbostart offers a unique approach to mentorship.
Its commitment goes beyond monetary investment as it works closely with entrepreneurs and taps into the different capabilities of its broad network.
Turbostart has completed two funds in the previous four years, with three more planned for 2023, for a total fund size of $40 million.
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