Tech3 | Investors want to add Meesho to their carts; Why Elon Musk’s India visit is pivotal; and more

One quick thing: Zomato announces launch of India's first 'large order fleet' for party orders?

In today’s newsletter:?

• Investors want to add Meesho to their carts
• Why Elon Musk’s India visit is pivotal
• BharatPe elevates Nalin Negi as C

Investors want to add Meesho to their carts

E-commerce startup Meesho has undergone a dramatic turnaround. Once facing potential write-offs, they're now seeing a surge in investor interest.?

Investor frenzy: Meesho's ongoing funding round, initially aiming for $300 million, is attracting significant interest .

• The company might raise a total of $500-650 million, with $300 million being primary capital?

The remaining will be the secondary component, with the final round size depending on investor dilution.

The Flipkart angle:?While several venture capital firms are lining up to invest in Meesho, two investors stand out in particular: Accel and Tiger Global.

• We previously reported , Tiger Global, an early backer of Flipkart, will lead Meesho's funding round alongside Peak XV Partners

Tiger Global made significant gains of around $3.5 billion from its investment in Flipkart.?

Similarly, Accel held discussions with Meesho for a potential investment deal, though the talks ultimately fell through.?

• Accel?earned $1.5-2 billion by investing around $60-80 million in Flipkart. It likely saw a similar potential in Meesho

Need for capital: Despite recent profitability, Meesho requires capital for two main reasons:

• Tax obligations arising from its base relocation from Delaware to India for a potential domestic IPO

• Funding for acquisitions and growing customer base across various price segments

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