If the funding deal goes through, Meesho can see its valuation surge up to $600-650 million.
Earlier this week, Meesho raised $25 million from Facebook to ramp up its presence in India, which is considered one of the biggest internet markets globally. The investment from Facebook was likely a part of the larger capital raise.
Meesho has so far raised over $65 million in funding. Other investors in the startup include Sequoia Capital, SAIF Partners, Bain Capital, Shunwei Capital, DST Partners, and RPS Ventures.
Co-founded by two engineering graduates in 2015, the startup claims to connect about 2 million entrepreneurs typically catering to tier II and III cities across India. Of this, close to 80 per cent are first-time women entrepreneurs.
Meesho adopts a three-way marketplace connecting consumers, resellers, and suppliers.